Economy & Market
Schneider to buy L&T’s E&A biz
Published
8 years agoon
By
admin
The combined business will offer a comprehensive portfolio of products and solutions in India at competitive prices, for large partners and customer base in many segments, across geographies.
Schneider Electric, the global leader in digital transformation of energy management and automation today announces the signing of an agreement with Larsen and Toubro Ltd (L&T), a leading conglomerate in India to buy its Electrical and Automation business (L&T E&A) and combine it with Schneider Electric India’s Low voltage and Industrial Automation Product business. Temasek, an investment company headquartered in Singapore, will invest in the combined business and will hold 35 per cent of it.
L&T E&A is a recognised player in the Energy Management and Industrial Automation business in India led by an experienced management team. It offers low and medium voltage switchgear, electrical systems and equipment, energy management, metering and industrial automation solutions. It benefits from an extensive ecosystem of partners covering more than 260 cities in India. It has an efficient local manufacturing footprint with five manufacturing locations in India along with robust local R&D capabilities. The company is also present in the Middle-East and South-East Asia markets. L&T E&A has over 5,000 employees, excluding Marine Switchgear and Servowatch Systems.
India is the third largest economy in Asia Pacific and sixth largest in the world with $2.6 trillion GDP. It is also the fastest growing large economy globally with an expected 2018 GDP growth rate of 7.4 per cent (based on IMF data). With strong growth in the buildings and infrastructure segments coupled with growth in industrial manufacturing driven notably by the Indian Government’s program to develop industries through ‘Make in India’, the market is expected to grow high-single digit to double-digit for energy management offers and double-digit for industrial automation offers over the coming years. The combined business of Schneider Electric’s Low Voltage and Industrial Automation Product business and L&T E&A will be uniquely positioned to benefit from these trends.
Schneider Electric is committed to investing in India’s growth, with its businesses being present in India since 1963. With this transaction, India will become the third largest country for Schneider Electric in terms of revenues at par with France.
Temasek is a global investor anchored in Asia, with India accounting for around 5 per cent net portfolio value based on underlying assets, as at 31 March 2017. Temasek’s investment deepens its exposure to India, as well as to the industrial sector. Temasek and Schneider Electric both recognize India’s significant growth opportunities, further accentuated by the Indian Government’s Make in India policy. Make in India seeks to promote growth in the domestic market, establish India as a strong R&D hub and enhance production capabilities to service the Indian market and new economies, using India as a hub. With this combination, Schneider Electric and Temasek are establishing a company with scale, efficiency and channel partner outreach across India. It will offer innovative products and solutions to Indian customers, bringing differentiation in a dynamic and competitive market having many major global and local low voltage switchgear players.
The combined business with more than ?? billion in revenues will create significant synergies and efficiencies by leveraging on the complementary businesses of Schneider and L&T E&A business, including:
- utilization of L&T E&A’s R&D set up with capability to locally develop products suited for India and other new economies with Schneider’s global technology and best practices;
- wide range of products and technologically superior solutions to the Indian consumers across portfolios and price points;
- widespread network of distributors/ channel partners and extensive geographical reach across India, enabling Schneider access to consumers in tier 2 and tier 3 cities and semi-urban and rural areas across India, where Schneider Electric currently has a limited presence;
- enhanced manufacturing footprint in India which will result in greater domestic production, reduced dependence on imports and increased employment opportunities;
- developing India as the "fourth" hub for Schneider globally (the other three being US, France and China) to cater to the growing Indian market as well as develop India as global markets;
- expertise in additional segments within industries, infrastructure and construction; and strong organizational capability of L&T E&A to execute integrated electrical and automation projects with custom engineered solutions. Apart from creating a stronger solution capability in the organization, it will also create strong demand for products of combined business from projects.
The combined business will therefore offer a comprehensive portfolio of products and solutions in India at competitive prices, for large partners and customer base in many segments, across geographies.
As part of the contemplated transaction, L&T E&A would be acquired for an Enterprise Value (EV) of Rs 14,000 crore. The deal is subject to customary approvals from the Competition Commission of India and other regulatory authorities and is expected to close once regulatory approvals are in place.Jean-Pascal Tricoire, Schneider Electric, Chairman and CEO stated, "By bringing together the Low Voltage and Industrial Automation Products Business of Schneider Electric India and L&T E&A, we are creating an innovative company in Energy Management and Industrial Automation in one of world’s largest and fastest growing economies – India. Our market reach in India will be further strengthened by the extensive ecosystem of partners of E&A and we will harness the strengths of both organizations to address the electrical and automation requirements of India and global market. India will become our third largest business in the world, and one of our four major R&D and manufacturing global hubs. Our combined company will actively contribute to make India green, digital, and reinforce its role as a center for R&D and manufacturing. We are pleased to partner with Temasek which brings a tremendous expertise of Asian markets."
Schneider Electric is leading the Digital Transformation of energy management and automation in homes, buildings, data centres, infrastructure and industries. With global presence in over 100 countries, Schneider is the undisputable leader in Power Management – Medium Voltage, Low Voltage and Secure Power, and in Automation Systems. We provide integrated efficiency solu?tions, combining energy, automation and software.
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Concrete
FORNNAX Appoints Dieter Jerschl as Sales Partner for Central Europe
Published
2 weeks agoon
February 5, 2026By
admin
FORNNAX TECHNOLOGY has appointed industry veteran Dieter Jerschl as its new sales partner in Germany to strengthen its presence across Central Europe. The partnership aims to accelerate the adoption of FORNNAX’s high-capacity, sustainable recycling solutions while building long-term regional capabilities.
FORNNAX TECHNOLOGY, one of the leading advanced recycling equipment manufacturers, has announced the appointment of a new sales partner in Germany as part of its strategic expansion into Central Europe. The company has entered into a collaborative agreement with Mr. Dieter Jerschl, a seasoned industry professional with over 20 years of experience in the shredding and recycling sector, to represent and promote FORNNAX’s solutions across key European markets.
Mr. Jerschl brings extensive expertise from his work with renowned companies such as BHS, Eldan, Vecoplan, and others. Over the course of his career, he has successfully led the deployment of both single machines and complete turnkey installations for a wide range of applications, including tyre recycling, cable recycling, municipal solid waste, e-waste, and industrial waste processing.
Speaking about the partnership, Mr. Jerschl said,
“I’ve known FORNNAX for over a decade and have followed their growth closely. What attracted me to this collaboration is their state-of-the-art & high-capacity technology, it is powerful, sustainable, and economically viable. There is great potential to introduce FORNNAX’s innovative systems to more markets across Europe, and I am excited to be part of that journey.”
The partnership will primarily focus on Central Europe, including Germany, Austria, and neighbouring countries, with the flexibility to extend the geographical scope based on project requirements and mutual agreement. The collaboration is structured to evolve over time, with performance-driven expansion and ongoing strategic discussions with FORNNAX’s management. The immediate priority is to build a strong project pipeline and enhance FORNNAX’s brand presence across the region.
FORNNAX’s portfolio of high-performance shredding and pre-processing solutions is well aligned with Europe’s growing demand for sustainable and efficient waste treatment technologies. By partnering with Mr. Jerschl—who brings deep market insight and established industry relationships—FORNNAX aims to accelerate adoption of its solutions and participate in upcoming recycling projects across the region.
As part of the partnership, Mr. Jerschl will also deliver value-added services, including equipment installation, maintenance, and spare parts support through a dedicated technical team. This local service capability is expected to ensure faster project execution, minimise downtime, and enhance overall customer experience.
Commenting on the long-term vision, Mr. Jerschl added,
“We are committed to increasing market awareness and establishing new reference projects across the region. My goal is not only to generate business but to lay the foundation for long-term growth. Ideally, we aim to establish a dedicated FORNNAX legal entity or operational site in Germany over the next five to ten years.”
For FORNNAX, this partnership aligns closely with its global strategy of expanding into key markets through strong regional representation. The company believes that local partnerships are critical for navigating complex market dynamics and delivering solutions tailored to region-specific waste management challenges.
“We see tremendous potential in the Central European market,” said Mr. Jignesh Kundaria, Director and CEO of FORNNAX.
“Partnering with someone as experienced and well-established as Mr. Jerschl gives us a strong foothold and allows us to better serve our customers. This marks a major milestone in our efforts to promote reliable, efficient and future-ready recycling solutions globally,” he added.
This collaboration further strengthens FORNNAX’s commitment to environmental stewardship, innovation, and sustainable waste management, supporting the transition toward a greener and more circular future.
Concrete
Budget 2026–27 infra thrust and CCUS outlay to lift cement sector outlook
Published
2 weeks agoon
February 2, 2026By
admin
Higher capex, city-led growth and CCUS funding improve demand visibility and decarbonisation prospects for cement
Mumbai
Cement manufacturers have welcomed the Union Budget 2026–27’s strong infrastructure thrust, with public capital expenditure increased to Rs 12.2 trillion, saying it reinforces infrastructure as the central engine of economic growth and strengthens medium-term prospects for the cement sector. In a statement, the Cement Manufacturers’ Association (CMA) has welcomed the Union budget 2026-27 for reinforcing the ambitions for the nation’s growth balancing the aspirations of the people through inclusivity inspired by the vision of Narendra Modi, Prime Minister of India, for a Viksit Bharat by 2047 and Atmanirbharta.
The budget underscores India’s steady economic trajectory over the past 12 years, marked by fiscal discipline, sustained growth and moderate inflation, and offers strong demand visibility for infrastructure linked sectors such as cement.
The Budget’s strong infrastructure push, with public capital expenditure rising from Rs 11.2 trillion in fiscal year 2025–26 to Rs 12.2 trillion in fiscal year 2026–27, recognises infrastructure as the primary anchor for economic growth creating positive prospects for the Indian cement industry and improving long term visibility for the cement sector. The emphasis on Tier 2 and Tier 3 cities with populations above 5 lakh and the creation of City Economic Regions (CERs) with an allocation of Rs 50 billion per CER over five years, should accelerate construction activity across housing, transport and urban services, supporting broad based cement consumption.
Logistics and connectivity measures announced in the budget are particularly significant for the cement industry. The announcement of new dedicated freight corridors, the operationalisation of 20 additional National Waterways over the next five years, the launch of the Coastal Cargo Promotion Scheme to raise the modal share of waterways and coastal shipping from 6 per cent to 12 per cent by 2047, and the development of ship repair ecosystems should enhance multimodal freight efficiency, reduce logistics costs and improve the sector’s carbon footprint. The announcement of seven high speed rail corridors as growth corridors can be expected to further stimulate regional development and construction demand.
Commenting on the budget, Parth Jindal, President, Cement Manufacturers’ Association (CMA), said, “As India advances towards a Viksit Bharat, the three kartavya articulated in the Union Budget provide a clear context for the Nation’s growth and aspirations, combining economic momentum with capacity building and inclusive progress. The Cement Manufacturers’ Association (CMA) appreciates the Union Budget 2026-27 for the continued emphasis on manufacturing competitiveness, urban development and infrastructure modernisation, supported by over 350 reforms spanning GST simplification, labour codes, quality control rationalisation and coordinated deregulation with States. These reforms, alongside the Budget’s focus on Youth Power and domestic manufacturing capacity under Atmanirbharta, stand to strengthen the investment environment for capital intensive sectors such as Cement. The Union Budget 2026-27 reflects the Government’s focus on infrastructure led development emerging as a structural pillar of India’s growth strategy.”
He added, “The Rs 200 billion CCUS outlay for various sectors, including Cement, fundamentally alters the decarbonisation landscape for India’s emissions intensive industries. CCUS is a significant enabler for large scale decarbonisation of industries such as Cement and this intervention directly addresses the technology and cost requirements of the Cement sector in context. The Cement Industry, fully aligned with the Government of India’s Net Zero commitment by 2070, views this support as critical to enabling the adoption and scale up of CCUS technologies while continuing to meet the Country’s long term infrastructure needs.”
Dr Raghavpat Singhania, Vice President, CMA, said, “The government’s sustained infrastructure push supports employment, regional development and stronger local supply chains. Cement manufacturing clusters act as economic anchors across regions, generating livelihoods in construction, logistics and allied sectors. The budget’s focus on inclusive growth, execution and system level enablers creates a supportive environment for responsible and efficient expansion offering opportunities for economic growth and lending momentum to the cement sector. The increase in public capex to Rs 12.2 trillion, the focus on Tier 2 and Tier 3 cities, and the creation of City Economic Regions stand to strengthen the growth of the cement sector. We welcome the budget’s emphasis on tourism, cultural and social infrastructure, which should broaden construction activity across regions. Investments in tourism facilities, heritage and Buddhist circuits, regional connectivity in Purvodaya and North Eastern States, and the strengthening of emergency and trauma care infrastructure in district hospitals reinforce the cement sector’s role in enabling inclusive growth.”
CMA also noted the Government’s continued commitment to fiscal discipline, with the fiscal deficit estimated at 4.3 per cent of GDP in FY27, reinforcing macroeconomic stability and investor confidence.
Concrete
JK Cement Crosses 31 MTPA Capacity with Commissioning of Buxar Plant in Bihar
Published
3 weeks agoon
January 30, 2026By
admin
JK Cement has commissioned a 3 MTPA Grey Cement plant in Buxar, Bihar, taking its total capacity to 31.26 MTPA and placing it among India’s top five grey cement producers. The ₹500 crore investment strengthens the company’s national footprint while supporting Bihar’s infrastructure growth and local economic development.
JK Cement Ltd., one of India’s leading cement manufacturers, has announced the commissioning of its new state-of-the-art Grey Cement plant in Buxar, Bihar, marking a significant milestone in the company’s growth trajectory. With the commissioning of this facility, JK Cement’s total production capacity has increased to 31.26 million tonnes per annum (MTPA), enabling the company to cross the 30 MTPA threshold.
This expansion positions JK Cement among the top five Grey Cement manufacturers in India, strengthening its national footprint and reinforcing its long-term growth strategy.
Commenting on the strategic achievement, Dr Raghavpat Singhania, Managing Director, JK Cement, said, “Crossing 31 MTPA is a significant turning point in JK Cement’s expansion and demonstrates the scale, resilience, and aspirations of our company. In addition to making a significant contribution to Bihar’s development vision, the commissioning of our Buxar plant represents a strategic step towards expanding our national footprint. We are committed to developing top-notch manufacturing capabilities that boost India’s infrastructure development and generate long-term benefits for local communities.”
The Buxar plant has a capacity of 3 MTPA and is spread across 100 acres. Strategically located on the Patna–Buxar highway, the facility enables faster and more efficient distribution across Bihar and adjoining regions. While JK Cement entered the Bihar market last year through supplies from its Prayagraj plant, the Buxar facility will now allow the company to serve the state locally, with deliveries possible within 24 hours across Bihar.
Sharing his views on the expansion, Madhavkrishna Singhania, Joint Managing Director & CEO, JK Cement, said, “JK Cement is now among India’s top five producers of grey cement after the Buxar plant commissioning. Our capacity to serve Bihar locally, more effectively, and on a larger scale is strengthened by this facility. Although we had already entered the Bihar market last year using Prayagraj supplies, local manufacturing now enables us to be nearer to our clients and significantly raise service standards throughout the state. Buxar places us at the center of this chance to promote sustainable growth for both the company and the region in Bihar, a high-growth market with strong infrastructure momentum.”
The new facility represents a strategic step in supporting Bihar’s development vision by ensuring faster access to superior quality cement for infrastructure, housing, and commercial projects. JK Cement has invested approximately ₹500 crore in the project. Construction began in March 2025, and commercial production commenced on January 29, 2026.
In addition to strengthening JK Cement’s regional presence, the Buxar plant is expected to generate significant direct and indirect employment opportunities and attract ancillary industries, thereby contributing to the local economy and the broader industrial ecosystem.
FORNNAX Appoints Dieter Jerschl as Sales Partner for Central Europe
Budget 2026–27 infra thrust and CCUS outlay to lift cement sector outlook
Steel: Shielded or Strengthened?
JK Cement Commissions 3 MTPA Buxar Plant, Crosses 31 MTPA
JK Cement Crosses 31 MTPA Capacity with Commissioning of Buxar Plant in Bihar
FORNNAX Appoints Dieter Jerschl as Sales Partner for Central Europe
Budget 2026–27 infra thrust and CCUS outlay to lift cement sector outlook
Steel: Shielded or Strengthened?
JK Cement Commissions 3 MTPA Buxar Plant, Crosses 31 MTPA


