Schneider Electric plans to set up new production facilities in Russia

Russia, Moscow: French transformer manufacturer Schneider Electric is preparing an investment contract to set up new production facilities and additionally localize products at existing assets in Russia.

“The Russian market is a priority one for Schneider Electric,” said Vice President for Strategy and New Business Development Armen Badalov, according to TASS.

“The company already invested over $1 billion into localization of equipment and technologies on the Russian territory and continues investing. Russia is the second market in Europe and the fourth in the world in terms of business volume,” he added.

The management of the French company plans to negotiate the contract during the St. Petersburg International Economic Forum in June.

Source: TASS