German industrial conglomerate Siemens AG said it has acquired BJC, Spain's No. 3 supplier of electrical switches and socket outlets. Financial details of the deal were not disclosed.Siemens said the acquisition will enable its building technologies division, part of the Siemens Industry Sector, to expand its global position on the market for electrical installation technology.
The building technologies division will also gain entry to the residential construction market and improve its access to the market for electrical installation in functional buildings in Spain, the company said.
Based near Barcelona, BJC manufactures and distributes socket outlets, street, garden and industrial lighting as well as plug and socket devices for industrial applications.
BJC has about 380 employees and generated revenue of about 54 million euros ($83.26 million) in 2007, Siemens said.
"BJC will broaden our base on the profitable Spanish market for electrical installation technology," said Godehardt Schneider, head of the electrical installation technology business unit at Siemens.