Schneider in talks to buy Luminous for $800M

Schneider Electric is in talks to take control of privately held Indian power and energy storage company Luminous Power Technologies.

04/12/2011


France's Schneider Electric is in talks to take control of privately held Indian power and energy storage company Luminous Power Technologies for $800 million, according to news website Wansquare.

The Economic Times reported on April 1 that Schneider was in advanced talks to buy a majority stake in the Delhi-based group. The Economic Times quoted Luminous founder and Chief Executive Rakesh Malhotra as saying that several strategic partners, including Schneider, had shown interest in a majority stake.

Schneider, which makes electricity cables and distribution equipment, declined to comment on Luminous on Tuesday.

Luminous, whose clients include steelmaker Tata Steel, telecom group Bharti Airtel and carmaker Maruti Suzuki, almost doubled sales to $250 million in the 2010 fiscal year and is forecasting sales will double again in 2011 to $500 million, according to its website.

- Edited by Gust Gianos, Consulting-Specifying Engineer, www.csemag.com



No comments
Consulting-Specifying Engineer's Product of the Year (POY) contest is the premier award for new products in the HVAC, fire, electrical, and...
Consulting-Specifying Engineer magazine is dedicated to encouraging and recognizing the most talented young individuals...
The MEP Giants program lists the top mechanical, electrical, plumbing, and fire protection engineering firms in the United States.
High-performance buildings; Building envelope and integration; Electrical, HVAC system integration; Smoke control systems; Using BAS for M&V
Pressure piping systems: Designing with ASME; Lab ventilation; Lighting controls; Reduce energy use with VFDs
Smoke control: Designing for proper ventilation; Smart Grid Standard 201P; Commissioning HVAC systems; Boilers and boiler systems
Case Study Database

Case Study Database

Get more exposure for your case study by uploading it to the Consulting-Specifying Engineer case study database, where end-users can identify relevant solutions and explore what the experts are doing to effectively implement a variety of technology and productivity related projects.

These case studies provide examples of how knowledgeable solution providers have used technology, processes and people to create effective and successful implementations in real-world situations. Case studies can be completed by filling out a simple online form where you can outline the project title, abstract, and full story in 1500 words or less; upload photos, videos and a logo.

Click here to visit the Case Study Database and upload your case study.

Protecting standby generators for mission critical facilities; Selecting energy-efficient transformers; Integrating power monitoring systems; Mitigating harmonics in electrical systems
Commissioning electrical systems in mission critical facilities; Anticipating the Smart Grid; Mitigating arc flash hazards in medium-voltage switchgear; Comparing generator sizing software
Integrating BAS, electrical systems; Electrical system flexibility; Hospital electrical distribution; Electrical system grounding
As brand protection manager for Eaton’s Electrical Sector, Tom Grace oversees counterfeit awareness...
Amara Rozgus is chief editor and content manager of Consulting-Specifier Engineer magazine.
IEEE power industry experts bring their combined experience in the electrical power industry...
Michael Heinsdorf, P.E., LEED AP, CDT is an Engineering Specification Writer at ARCOM MasterSpec.