CG acquires Technology leader in Smart Grid Automation - ZIV Group
Mumbai, July 27, 2012- Crompton Greaves Ltd (CG) has acquired 100% of ZIV, a global leader in the high value Smart Grid and Automation Solutions segments for Industrial and utilities companies, for an Enterprise Value equivalent to Euro 150 million. ZIV is a provider of digital equipment for Grid Automation and Advanced Metering Infrastructure (AMI). ZIV operates in more than 50 countries, with major operations located in Brazil (Rio de Janeiro), India (Bangalore), Spain (Madrid, Barcelona, Bilbao) and the USA (Chicago). ZIV, created in 1993, has installed more than 1.4 million IEDs for Utilities and Industries across the world.
CG is a leader in electrical transmission and distribution equipment with significant market share in the Americas, Europe, the Middle East, India and South East Asia. In previous years, CG has been expanding its activities into the systems arena, providing integrated solutions for utilities and industries. ZIV will complement CG's offering for Grid Automation, further enhancing its differentiated offering in its core businesses.
In addition, the ZIV smart grid platform will be the basis for rapid expansion across Europe, India and the Americas. ZIV has delivered one of the largest and cost-effective smart grid projects in Europe, with over 500000 connection points, providing integrated solutions, from smart metering, through two-way communication infrastructure to innovative distribution automation.
By 2020, the global smart grid market has been estimated (Source: BCG / FutuRed report, 2012) to reach 90 BEURO (North America: 35 BEURO; Asia-Pacific: 29 BEURO; Europe 15 BEURO) with a projected growth over the period 2012 -2020 of 3.5 times.
Mr Norberto Santiago Elustondo, CEO of ZIV, commented: "We feel very confident about the next phase of our relationship with CG as we know very well our colleagues as a result of the Joint Venture in India. This development will be a catalyst to grow the ZIV activities in new parts of the World Market. By this fusion with CG, together we will get the most from ZIV's innovative technology".
Commenting on the acquisition, Mr. Laurent Demortier, CEO & Managing Director of CG said: "We are very happy to welcome all ZIV employees into the CG family. We have been working with ZIV for some time and are impressed by not only the technology and track record in the development of Smart Grid Solutions but also by the creativity and dynamism of the entire staff. This acquisition opens a new chapter in the development of the CG Group. With the exciting growth in the Smart Grid around the World, CG is now we positioned to effectively compete in this fast growing segment."
CG is a pioneering leader in the management and application of electrical energy. CG operates globally, is present in 21 countries and employs more than 12000 employees. CG provides electrical products, systems and services for Utilities, Power Generation, Industrial and Consumers. The company is organized into three business groups: Power, Industrial and Consumer. Nearly, two-thirds of its turnover accrues from Product Lines in which it enjoys a leadership position. CG is a part of the US$ 4 Bn Avantha Group. The Avantha Group has an impressive global footprint and comprises 8 successful, diverse entities.
For more information on CG, please visit: www.cgglobal.com
For further information, please contact:
Mr Vish Narayanan
Vice President - Communication
CG (Crompton Greaves Limited)
CG House, 1st floor
Worli, Mumbai 400 030
T: +91 22 24237842 / 67558771
Dr. Jan Declercq
Chief Technology Officer
CG Power Systems
T: +32 15 283 240
Jan Declercq [Jan.Declercq@cgglobal.com]