Schneider Electric

In 1836, brothers Adolphe and Joseph-Eugene Schneider took over an iron foundry in Le Creusot, France.[20] Two years later, they founded Schneider-Creusot, the company that would eventually become Schneider Electric. Initially, Schneider-Creusot specialized in the production of steel, heavy machinery, and transportation equipment.[21][22] In 1871, following France's defeat in the Franco-Prussian War, the company significantly developed its capacity for weapons manufacturing.[23] Over the first half of the 20th century, Schneider-Creusot continued to grow, establishing manufacturing sites in France and abroad, including in pre-Soviet Russia and Czechoslovakia.[23][24]

In the 1960s, following the death of Charles Schneider, Schneider-Creusot was absorbed by Belgium's Empain group, which merged Schneider-Creusot with its own corporate structures to form Empain-Schneider.[25][26] In 1981, the Empain family sold its controlling stake to Paribas.[26] In the 1980s and 1990s, the company, once again operating under the Schneider name, divested from steel and shipbuilding and, through strategic acquisitions, began to focus on the electricity sector.[22][27] These acquisitions included Télémécanique in 1988,[22] Square D in 1991,[28] and Merlin Gerin in 1992.[29]

In January of 1999, Schneider acquired the Scandinavian switch-maker Lexel.[30][31] Later that year, the company renamed itself Schneider Electric, to reflect its focus on the electricity sector.[32]

In October 2006, Schneider Electric announced that it would acquire the data center equipment manufacturer American Power Conversion for $6.1 billion.[33][34] The following February, the move was finalized following its approval by the European Commission.[35] In June of 2010, Schneider and the rolling stock manufacturer Alstom jointly purchased Areva's transmission and distribution businesses in a transaction totaling $2.73 billion.[36][37]

In 2016, Schneider acquired Tower Electric, a British company that manufactured fixings and fastenings for construction and electrical firms. In 2017, Schneider Electric became the majority shareholder of Aveva, a provider of engineering and industrial software based in the UK.[38][39] The next year, it acquired the Indian multinational Larsen & Toubro's electrical and automatic business in a cash deal for ₹140 billion (US$1.8 billion).[40]

In February 2020, Schneider made a €1.4 billion takeover bid for German company RIB Software,[41] closing the deal in July 2020.[42] Also in 2020, Schneider Electric acquired ProLeiT AG, a supplier of industrial control and MES software.[43]

In April 2021, Schneider introduced 'The Zero Carbon Project'. Since then, it has shown its commitment to minimize 'operational carbon emissions' by 2025.[44]

In January 2023, Schneider Electric's acquisition of Aveva was finalized.[45]

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  1838: "La Gironde", the first French locomotive
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  The Schneider logo in the 1950s
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  One of the first brochures for Telemecanique industrial control products. Telemecanique was acquired by Schneider Electric in 1988.