logo
  

Schneider Electric To Sell Its Eurotherm Unit To Watlow Electric

French firm Schneider Electric SA (SBGSF.PK) said on Wednesday that it has inked a deal with Watlow Electric Manufacturing Company, to sell its Eurotherm business unit.

The financial terms of the transaction, expected to be completed before the end of 2022, were not disclosed.

Eurotherm, currently reported under the Industrial Automation business of Schneider Electric, is a provider of temperature and power control and measurement solutions, with about 650 employees.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration said it now intends to review only a small subset of new emergency use authorization or EUA requests for diagnostic tests. As per an updated COVID-19 test policy with a view to ensure continued access to tests, the regulator further urged developers of all test types seeking marketing authorization to pursue traditional premarket review for most test types. Netflix, Inc. said it is adding a new feature to offer a more personalized mobile games experience on the platform. In a statement, Sophia Yang, Product Manager, Mobile Games, said the company is rolling out the ability to create game handles, with which members will be able to create a unique public username. This can be used across all Netflix games. General Motors Co. has delayed its plan to require employees to return to office many days a week until next year, reports said citing an internal memo signed by CEO Mary Barra. Last week, the company had announced that corporate workers would be required to return to respective offices at least three days a week, beginning later this year, as the COVID-19 pandemic eases.
Follow RTT