User:Rachel at Schneider Electric/Updated History

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History[edit]

1836-1963[edit]

Main article: Schneider-Creusot

In 1836, brothers Adolphe and Joseph-Eugene Schneider took over an iron foundry in Le Creusot, France.[1] Two years later, they founded Schneider-Creusot, the company that would eventually become Schneider Electric. Initially, Schneider-Creusot specialized in the production of steel, heavy machinery, and transportation equipment.[2][3] In 1871, following France's defeat in the Franco-Prussian War, the company significantly developed its capacity for weapons manufacturing.[1][4] Over the first half of the 20th century, Schneider-Creusot continued to grow, establishing manufacturing sites in France and abroad, including in pre-Soviet Russia and Czechoslovakia.[4][5]

1963-1999[edit]

Main article: Empain-Schneider

In the 1960s, following the death of Charles Schneider, Schneider-Creusot was absorbed by Belgium's Empain group, which merged Schneider-Creusot with its own corporate structures to form Empain-Schneider.[6][7] In 1981, the Empain family sold its controlling stake to Paribas.[7] In the 1980s and 1990s, the company, once again operating under the Schneider name, divested from steel and shipbuilding and, through strategic acquisitions, began to focus on the electricity sector.[3][8] These acquisitions included Télémécanique in 1988,[3] Square D in 1991,[9] and Merlin Gerin [fr] in 1992.[10]

1999-present[edit]

In January of 1999, Schneider acquired the Scandinavian switch-maker Lexel.[11][12] Later that year, the company renamed itself Schneider Electric, to reflect its focus on the electricity sector.[13]

In October 2006, Schneider Electric announced that it would acquire the data center equipment manufacturer American Power Conversion for $6.1 billion.[14][15] The following February, the move was finalized following its approval by the European Commission.[16] In June of 2010, Schneider and the rolling stock manufacturer Alstom jointly purchased Areva's transmission and distribution businesses in a transaction totaling $2.73 billion.[17][18]

In 2016, Schneider acquired Tower Electric, a British company that manufactured fixings and fastenings for construction and electrical firms.[19] In 2017, Schneider Electric became the majority shareholder of Aveva, a provider of engineering and industrial software based in the UK.[20][21] The next year, it acquired the Indian multinational Larsen & Toubro's electrical and automatic business in a cash deal for ₹140 billion (US$1.8 billion).[22]

In February 2020, Schneider made a €1.4 billion takeover bid for German company RIB Software,[23] closing the deal in July 2020.[24] Also in 2020, Schneider Electric acquired ProLeiT AG, a supplier of industrial control and MES software.[25]

References[edit]

  1. ^ a b Flynn, John T. (December 24, 2021). "The Merchant of Death: Basil Zaharoff". Mises Institute. Retrieved December 1, 2022.
  2. ^ Quigley, Carroll (1966). Tragedy And Hope. New York: Macmillan. p. 518. ISBN 0-945001-10-X.
  3. ^ a b c Nicholson, Chris V. (April 13, 2011). "Tyco Deal Could Be Costly for Schneider". New York Times. Retrieved December 1, 2022.
  4. ^ a b Nye, Gerald P. (1934). A primer on Europe's armament makers who prolong war and disturb peace (PDF). U.S. Government Printing Offices. p. 7-9.
  5. ^ Grant, Jonathan A. (2018). Between Depression and Disarmament. Cambridge University Press. p. 24-51.
  6. ^ Mooney, Richard E. (April 19, 1966). "Business Empire Set Up in France". New York Times. Retrieved December 1, 2022.
  7. ^ a b Renard, Francoise (February 28, 1981). "Le groupe Paribas prend le contrôle de l'empire Empain-Schneider La fin de l'intermède belge". Retrieved December 1, 2022.
  8. ^ Georgieva, Sonia; Lungarova, Tsvetina (2019). "Effects of Corporate Social Responsibility and Traditions in Innovations on the Activity of an International Company – the Case of "Schneider Electric"" (PDF). Economic Alternatives (2): 227–234. Retrieved December 1, 2022.
  9. ^ Ramirez, Anthony (1991-05-13). "Square D Agrees to Takeover". The New York Times. ISSN 0362-4331. Retrieved 2019-03-15.
  10. ^ "Schneider Electric Focuses on Strategy to Strengthen Merlin Gerin, Square D and Telemecanique Brands". Automation.com. Retrieved 2019-03-15.
  11. ^ "The world's longest-running electrical equipment companies". Power Technology. May 28, 2015.
  12. ^ Fleming, Charles (January 12, 1999). "France's Schneider to Pay $1.06 Billion For Scandinavian Switch Maker Lexel". Wall Street Journal. Retrieved December 1, 2022.
  13. ^ "The world's longest-running electrical equipment companies". Power Technology. May 28, 2015.
  14. ^ Walsh, Lawrence M. (October 30, 2006). "Viva Le Power: Schneider Buys APC". CRN. Retrieved December 1, 2022.
  15. ^ Miller, Rich (October 30, 2006). "Schneider Buys APC for $6.1 Billion". Data Center Knowledge. Retrieved December 1, 2022.
  16. ^ Moltzen, Edward F.. (February 14, 2007). "Schneider Electric Wraps Up APC Acquisition". CRN. Retrieved December 1, 2022.
  17. ^ "Areva T&D board approves name change". The Economic Times. December 26, 2011. Retrieved December 1, 2022.
  18. ^ "Alstom and Schneider Electric Close on Areva T&D Acquisition". Power Technology. June 9, 2010. Retrieved December 1, 2022.
  19. ^ Muirhead, Calum (September 21, 2022). "Pressure on Rees-Mogg over £9.5bn tech deal". This Is Money. Retrieved December 1, 2022.
  20. ^ Dummett, Ben; Kostov, Nick (2017-09-05). "Schneider Electric Swoops for U.K. Software Firm Aveva". Wall Street Journal. ISSN 0099-9660. Retrieved 2019-03-15.
  21. ^ "France's Schneider to buy rest of Aveva in $11 billion deal". Reuters. September 21, 2022. Retrieved December 1, 2022.
  22. ^ "Schneider's L&T Acquisition to Power 'Make In India' Mission | Storify News". 2019-06-17. Retrieved 2019-09-24.
  23. ^ "Schneider Electric makes €1.4bn bid for German construction IT company". Global Construction Review. 14 February 2020. Retrieved 30 July 2021.
  24. ^ "Schneider Electric a finalisé le rachat de RIB Software". Les Echos Investir. 10 July 2020. Retrieved 30 July 2021.
  25. ^ "Schneider Electric SE:'s Acquisition of ProLeiT AG: Marketscreener".
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