Siemens to acquire Russelectric
Oct. 3, 2018 – Siemens, known for low-voltage (LV) technologies, has announced plans to acquire Russelectric, a U.S.-based manufacturer of power control systems, including paralleling switchgear and automatic transfer switches.
The acquisition is intended to help Siemens serve customers in the data centre, health-care and public infrastructure markets, among others, where power reliability, security and affordability are particularly important.
“With this acquisition, we bring together our expertise and experience in the LV power market with Russelectric’s complementary energy infrastructure portfolio,” says Barry Powell, vice-president (VP) and business unit head for Siemens’ LV and products in North America.
Russelectric’s approximately 400 employees in Hingham, Mass., and Broken Arrow, Okla., will join Siemens’ U.S. team, which comprises some 50,000 employees at more than 50 manufacturing, research and development (R&D) and digital hubs.
“This acquisition will help us leverage Siemens’ global footprint and support our customers with a much stronger product and services portfolio,” says Dorian Alexandrescu, Russelectric’s president and CEO.
Upon closing of the acquisition, anticipated for late 2018 or early 2019 and subject to regulatory approval and other customary conditions, the wholly owned company will operate as ‘Russelectric, A Siemens Business.’