New Delhi: Lauritz Knudsen, formerly known as L&T Switchgear, on Wednesday said it will invest Rs 850 crore on expanding technologies, products and manufacturing capabilities in the country over the next three years.
Larsen & Toubro (L&T) sold its electrical and automation business to Schneider Electric for Rs 14,000 crore in 2020 and is now part of the Schneider Electric Group.
Peter Herweck, chief executive officer of Schneider Electric, said the new company aims to "strategically invest Rs 850 crore over the next three years, thereby establishing its role as a key player in India's rapid growth trajectory in the power sector." "Possibly." It is possible".
He was speaking during the launch of its new brand identity, “Lauritz Knudse Electrical & Automation”.Deepak Sharma, MD and CEO, Zone President, India, Schneider Electric India, said the investment is to "bring in the next phase of our technologies and products and certainly expand our manufacturing capabilities in the country."
Noting that India is the world's fastest growing major economy, which presents unique growth opportunities for Schneider Electric, Herweck said that as the country modernizes its infrastructure and industrial sectors, there will be demand for advanced power solutions. There will be a significant increase in demand.
“Looking towards the future, our commitment to India's growth story remains firm,” he stressed.
Schneider Electric Group acquired Lauritz Knudsen, a Danish manufacturer specializing in electrical appliances, in 2004.
Knudsen offers a portfolio of low-voltage switchgear, medium-voltage switchgear automation solutions, software and services for various sectors including homes, agriculture, buildings, infrastructure and industry.
Larsen & Toubro (L&T) sold its electrical and automation business to Schneider Electric for Rs 14,000 crore in 2020 and is now part of the Schneider Electric Group.
Peter Herweck, chief executive officer of Schneider Electric, said the new company aims to "strategically invest Rs 850 crore over the next three years, thereby establishing its role as a key player in India's rapid growth trajectory in the power sector." "Possibly." It is possible".
He was speaking during the launch of its new brand identity, “Lauritz Knudse Electrical & Automation”.Deepak Sharma, MD and CEO, Zone President, India, Schneider Electric India, said the investment is to "bring in the next phase of our technologies and products and certainly expand our manufacturing capabilities in the country."
Noting that India is the world's fastest growing major economy, which presents unique growth opportunities for Schneider Electric, Herweck said that as the country modernizes its infrastructure and industrial sectors, there will be demand for advanced power solutions. There will be a significant increase in demand.
“Looking towards the future, our commitment to India's growth story remains firm,” he stressed.
Schneider Electric Group acquired Lauritz Knudsen, a Danish manufacturer specializing in electrical appliances, in 2004.
Knudsen offers a portfolio of low-voltage switchgear, medium-voltage switchgear automation solutions, software and services for various sectors including homes, agriculture, buildings, infrastructure and industry.
