Siemens has signed an agreement for the takeover of Electrium for an undisclosed sum.

Electrium's electrical installation systems brands include Crabtree, Wylex and Volex. The company employs around 700 people at four sites. Sales in the fiscal year to 31 March 2005 were £74.5 million.

Godehardt Schneider, head of the electrical installation technology division at Siemens Automation and Drives, commented: "This is an important step for the global positioning of Siemens in electrical installation systems. The acquisition puts Siemens among the top three vendors in the UK.

"In addition, Electrium is a great supplement to our portfolio in the export markets of the near and Middle East."

"Siemens will continue to run the Crabtree, Wylex and Volex brands and supplement our portfolio with their products," said Chris Thomas, CEO of Electrium who will continue to manage the business.

Source

Electrical and Mechanical Contractor