Latest news with #electricalequipment
CNA
6 days ago
- Business
- CNA
Electrical component maker Hubbell to buy peer DMC Power for $825 million
Hubbell said on Tuesday it will acquire smaller peer DMC Power for $825 million in cash, as the electrical equipment maker bolsters its critical components portfolio to meet an expected boom in power demand. DMC designs and makes connector technology systems for high-voltage power infrastructure, and complements Hubbell's existing substation and transmission connector solutions, the acquiring firm said. Growing demand for artificial intelligence has fueled investments into modern data centers, in turn boosting the requirement for power infrastructure and components, and benefiting manufacturers like Hubbell and DMC Power. "As load growth, datacenter buildouts and aging infrastructure drive highly visible utility substation and transmission investment over the next several years, the acquisition of DMC Power expands Hubbell's strong presence in these attractive markets," said Hubbell CEO Gerben Bakker. Last month, Hubbell raised its annual profit forecast banking on strong demand for its products. DMC has more than 350 employees and two manufacturing facilities along with multiple distribution facilities located across North America, Hubbell said. Hubbell expects the deal to close by the end of this year, and boost its adjusted earnings per share in 2026. It plans to finance the transaction with a combination of cash on hand and debt.
Yahoo
6 days ago
- Business
- Yahoo
Electrical component maker Hubbell to buy peer DMC Power for $825 million
(Reuters) -Hubbell said on Tuesday it will acquire smaller peer DMC Power for $825 million in cash, as the electrical equipment maker bolsters its critical components portfolio to meet an expected boom in power demand. DMC designs and makes connector technology systems for high-voltage power infrastructure, and complements Hubbell's existing substation and transmission connector solutions, the acquiring firm said. Growing demand for artificial intelligence has fueled investments into modern data centers, in turn boosting the requirement for power infrastructure and components, and benefiting manufacturers like Hubbell and DMC Power. "As load growth, datacenter buildouts and aging infrastructure drive highly visible utility substation and transmission investment over the next several years, the acquisition of DMC Power expands Hubbell's strong presence in these attractive markets," said Hubbell CEO Gerben Bakker. Last month, Hubbell raised its annual profit forecast banking on strong demand for its products. DMC has more than 350 employees and two manufacturing facilities along with multiple distribution facilities located across North America, Hubbell said. Hubbell expects the deal to close by the end of this year, and boost its adjusted earnings per share in 2026. It plans to finance the transaction with a combination of cash on hand and debt. Sign in to access your portfolio
Yahoo
31-07-2025
- Business
- Yahoo
Schneider Electric confirms 2025 outlook as data centres drive growth
(Reuters) -French electrical equipment maker Schneider Electric confirmed its 2025 outlook on Thursday after reporting second-quarter revenue growth, buoyed by continued strong demand for its data centre offering. Revenues were up 8.3% organically to 10.01 billion euros ($11.43 billion). That compared with estimates of 9.99 billion and 7.5% organic growth in a company-compiled consensus. Revenues at its energy management business rose 10% organically. The company confirmed its implied 2025 adjusted earnings before interest, taxes and amortization (EBITA) margin of between around 18.7% and 19%, compared with an estimate of 18.8%. The guidance included the impact of trade tariffs enacted or announced to-date, the company said. The group, which has been benefiting from a shift toward electrification and heavy investment in data centres, said that the overall environment in data center segment continued to be very strong, with sales growing double-digit in the quarter. It added that it saw good traction for its cooling offers, including for liquid cooling at its recently acquired U.S. company Motivair. Schneider noted that demand at its non-residential segment remains strong, but its "relatively smaller" residential buildings segment continued to see a decline in demand. All of its four regions reported growth in the quarter, Schneider said. Revenues in North America, which is its biggest market accounting for 38% of its second-quarter revenue, grew 12.5% organically. The company has more than 20 factories and distribution centers across the U.S., including facilities in Texas, Ohio, Missouri, North Carolina. ($1 = 0.8758 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
30-07-2025
- Business
- Reuters
Schneider Electric to take full ownership of India unit for $6.4 billion
July 30 (Reuters) - French electrical equipment maker Schneider Electric ( opens new tab said on Wednesday that it has agreed to buy Temasek's 35% stake in its Indian joint venture for 5.5 billion euros ($6.4 billion) in cash. Schneider, which is a major supplier of electrical equipment and other infrastructure for data centres, said full ownership of Schneider Electric India will help to quicken decision-making in its third-largest market. "This transaction represents the logical next step in Schneider Electric's strategic investment focus on India as both an attractive domestic growth market and one of the key hubs in its multi-hub strategy," it said in a statement. The company has sharpened its focus on India in recent years. The country is one of its four global hubs, with 31 factories there and as many distribution centres. Schneider bought 65% of the business in 2020 from Indian infrastructure firm L&T ( opens new tab, marking its largest acquisition in India. The company plans to expand its capacity in India by 2.5 to 3 times. It added that it expects double-digit organic sales growth on a compound annual rate basis (CAGR) for the unit in the coming years. Total sales in India reached 2.5 billion euros across its subsidiaries in 2024, accounting for around 7% of group revenues. ($1 = 0.8663 euros)
