June 3, 2009

Schneider Electric Agrees To Buy Indian Manufacturer

Electrical, Finance, Free, Mergers & Acquisitions, News, Subscriber Only, Top Distributor Sectors / MDM Staff

France-based Schneider Electric has agreed to acquire Indian manufacturer Conzerv Systems. Conzerv designs and manufactures technologies for energy audits and energy management systems, primarily for industrial and commercial end-users.

Conzerv generates sales in excess of €10 million annually and employs 337 people.

With this acquisition, Schneider Electric will significantly reinforce its position to capture opportunities in the fast growing energy efficiency field in India. Conzerv products will also expand Schneider Electric’s offering in power monitoring for its international markets.

Schneider Electric has locations in more than 100 …

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Canadian Building Permits Fall 5.4% in April

Building Materials/Construction, Economic Trends, Free, News, Research & Analytics, Subscriber Only, Top Distributor Sectors / MDM Staff

Canadian contractors took out $4.3 billion in building permits in April, down 5.4% from March. A 14.4% decline in non-residential permits in April more than offset a 4.1% increase in the value of residential permits.

In the non-residential sector, the value of permits fell 14.4% to $2.0 billion. The decrease was largely a result of lower commercial construction intentions in Ontario and lower institutional construction intentions in British Columbia.

In the residential sector, the value of permits rose 4.1% to $2.3 billion. This was attributable to increases in single-family permits in eight provinces. The total value of intentions was down in four provinces: Ontario, British Columbia, Newfoundland and Labrador, and …

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Grainger Agrees to Acquire Full Ownership of India Joint Venture

Companies, Facilities Maintenance (MRO), Free, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Chicago, IL-based Grainger, broad line distributor of facilities maintenance products, has agreed to acquire full ownership of its joint venture in India, Asia Pacific Brands India Private Limited, an industrial and electrical wholesaler-distributor. Grainger is paying $1.2 million.

"We are excited about growing our business in India," said Grainger’s CEO Jim Ryan. "As that economy gets more competitive, Indian companies want efficient and reliable ways to get the quality products they need to keep their facilities running and their employees safe. With annual revenues of approximately $30 million, Asia Pacific will provide us a starting position in a large, high-potential MRO market."

Late last year, the company wrote down its investment in …

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June 3, 2009

Schneider Electric Agrees To Buy Indian Manufacturer

Canadian Building Permits Fall 5.4% in April

Grainger Agrees to Acquire Full Ownership of India Joint Venture

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