New deal for Schneider

June 2010 News

Schneider Electric has finalised its third black economic empowerment deal with leading empowerment concern, Community Investment Holdings (CIH). This vendor finance deal places 20,1% of the Schneider Electric South Africa shareholding in the hands of CIH, a 100% black owned group which is actively involved and has significant interests in technology, power and energy. Schneider Electric has been working with CIH since 1999, and the two companies have, over the years, combined their efforts and capabilities to effect results in South Africa’s energy management sector.

Schneider says it remains committed to the local empowerment drive, advancing empowerment initiatives in ways that are sustainable, credible and which benefit all stakeholders in the country.

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