Time is right to combine the two companies: Schneider Electric CEO

by Dramelin 9:30 AM 0 comments

The deal between Aveva Group and Schneider Electric may be finally here after two false starts, however the CEO of Schneider Electric believes there are now three reasons why investors should feel confident about the deal this time around.
"I believe in this case, in the third period, things are different," Jean-Pascal Tricoire, Schneider Electric`s CEO and Chairman told CNBC Tuesday.
"We have signed, we have committed, so the prospectus of the argument will be published this week and then it goes into a process of merger of Aveva and the software division of Schneider, and I think the things that have changed are very simple.
" "First point, the teams have worked hard on both sides to make sure that they are completely ready for a merger, which was probably not the case two years ago.
" "Secondly, the markets are more stable, I mean when we started the discussion in 2015, there were big instabilities in the market of mining and oil and gas, which today – I wouldn`t say they are the most stable markets in the world – but there is more visibility, more predictability.
" "Third point, the teams know each other much better, so they feel much more comfortable to work together.
" "I will add one thing, in the meantime, in the past two years the digitization, of manufacturing, of the planned space has become really priority on the agenda of many of our customers, so, therefore, the time is right for creating this combination of two companies that can propose a fully integrated, digital life cycle for industrial players.