Printer Friendly

GROUPE SCHNEIDER ANNOUNCES NEW ORGANIZATION

 GROUPE SCHNEIDER ANNOUNCES NEW ORGANIZATION
 PARIS, France, April 29 /PRNewswire/ -- Didier Pineau-Valencienne,


chairman and chief executive officer of Groupe Schneider headquartered in Paris, France, announced the implementation of the next phase of the organization of Schneider Industrie -- the four major industrial businesses of Groupe Schneider -- Jeumont-Schneider Industrie, Merlin Gerin, Square D Company and Telemecanique.
 Charles W. Denny has been named president and chief executive officer of Schneider North America -- one of the three geographically defined businesses of Schneider Industrie. Denny was also named president and chief operating officer of Square D Company.
 The organization changes become effective June 1, 1992.
 In October 1991, Groupe Schneider announced the formation of Schneider Industrie and in December 1991, announced the matrix reporting structure of the company's industrial business units and geographical businesses.
 During this next phase Groupe Schneider will create three industrial companies and three geographically defined businesses which will report directly to Groupe Schneider in France.
 The three industrial companies are:
 -- Merlin Gerin which will be a new company, managing only the assets and operations in France.
 -- Telemecanique, which will be a new company, managing only the assets and operations in France.
 -- Jeumont-Schneider Industrie.
 The three geographically defined businesses are:
 -- Schneider North America, which includes Canada, the United States and Mexico.
 -- Schneider Europe, which includes all of the European operations of Groupe Schneider -- excluding France -- the Eastern European countries and the countries of the former Soviet Union.
 -- Schneider International, which includes all the operations in Asia, South America, the Middle East, Africa, Australia, etc.
 Didier Pineau-Valencienne also announced that during 1992, Groupe Schneider will complete its planned reorganization of its Merlin Gerin business to establish complete legal and financial control. As part of its reorganization, Groupe Schneider plans to absorb its Merlin Gerin business by exchanging four Schneider shares for every five Merlin Gerin shares. A similar reorganization is planned for its Telemecanique business during 1993. These actions will solidify Groupe Schneider's complete ownership of all of the Groupe Schneider industrial subsidiaries.
 -0- 4/29/92
 /CONTACT: Ernie Schenk of Square D Company, 708-397-2600/ CO: Groupe Schneider ST: IN: SU:


PS -- NY098 -- 4640 04/29/92 17:53 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 29, 1992
Words:357
Previous Article:STANDARD & POOR'S STOCK PRICE INDEX -- CLOSING, THURSDAY, MAY 28
Next Article:HEALTHSOURCE REPORTS 51 CENTS PER SHARE ON RECORD FIRST QUARTER REVENUES AND NET INCOME; PLAN-WIDE MEMBERSHIP GROWTH OF 35 PERCENT


Related Articles
SCHNEIDER NORTH AMERICA ANNOUNCES NEW ORGANIZATION
COMBINED SQUARE D, TELEMECANIQUE RESOURCES TO DRIVE GROWTH IN AUTOMATION AND INDUSTRIAL CONTROL
EPE TECHNOLOGIES, SQUARE D TO COMBINE POWER PROTECTION SYSTEMS OPERATIONS
SQUARE D TARGETS AUTOMATION AND INDUSTRIAL/OEM MARKETS, LEVERAGES STRENGTHS OF UNIFIED GROUPE SCHNEIDER NORTH AMERICAN OPERATIONS
/REPEATING FROM YESTERDAY/
EXECUTIVE APPOINTMENTS AT SQUARE D, GROUPE SCHNEIDER-NORTH AMERICA EMPHASIZE CUSTOMER FOCUS
GROUPE SCHNEIDER: 1993 CONSOLIDATED SALES, A GOOD PERFORMANCE OF THE INDUSTRIAL BUSINESSES
AEG AND GROUPE SCHNEIDER ANNOUNCE NEW JOINT VENTURE COMPANY; AEG SCHNEIDER AUTOMATION
GROUPE SCHNEIDER BOARD RESTATES CONFIDENCE FOR CHAIRMAN
Strong Groupe Schneider Performance Adds Fuel to Aggressive Growth Plans for Schneider North America

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters