Schneider Electric (Australia) Pty Ltd bought Brisbane-based Nu-Lec on 1 June for an undisclosed sum. Nu-Lec is a supplier of medium voltage switchgear products as well as fibre optic cable for communication in underground coal mines.
French company Schneider is a world leader in the manufacture of low voltage, power transmission and distribution equipment. Internationlly, the company turns over $13.5 billion annually. Since the 60s the group has operated in Australia where it turns over $180 million. Since 1993 Schneider invested $29 million in acquisitions in Australia - Australian Standard Electrical Transformers in 1994 and Online Control in 1995.
Schneider said the acquisition would strengthen its Lytton manufacturing facility as well as its Medium Voltage business.
Nu-Lec chief executive and founder, Greg Nunn said the deal would allow Nu-Lec to grow with the backing of a bigger balance sheet.
