Siemens and Phoenix Contact have reached a cooperative agreement to expand Siemens' range of terminal blocks and overvoltage protection products.
The Siemens Automation and Drives Group (A&D) is strengthening its position with respect to modular terminal blocks and overvoltage protection products in electrical installation technology by means of a strategic partnership with Phoenix Contact. The two companies have agreed that Phoenix Contact will from now on be responsible for production and further development of the terminal blocks for Siemens. The agreement awards to Phoenix Contact the rights to use the existing Siemens program as well as Siemens production capacity in Greece. The companies agreed not to disclose the purchase price.
The agreement also provides that Siemens will from now on purchase exclusively from Phoenix Contact any terminal block and overvoltage protection products that are marketed as part of the Siemens brand. The agreement is subject to approval by the responsible Greek ministries and regional authorities. According to Godehard Schneider, head of the Electrical Installation Technology Division at Siemens A&D: "The cooperative agreement with Phoenix Contact, a leading manufacturer of terminal blocks and overvoltage protection products, will enable Siemens Automation and Drives to offer its electrical installation technology customers a complete assortment in these product categories. As a result, we will be able to achieve further growth potential in this sector through compatible solutions."
According to the agreement, Phoenix Contact will be awarded the right of use with respect to Siemens terminal blocks as well as a 25% share in the production facility at Eviop Tempo AE, Vassilikon Evia, Greece. Frank Stührenberg, Phoenix Contact sales manager, notes: "This cooperative agreement will enable Phoenix Contact to strengthen its worldwide market position through its collaboration with Siemens, and will also provide us with a new production location in the growth market of southeastern Europe."
Siemens holds a majority stake in Eviop Tempo, which manufactures circuit breakers, modular installation devices, LV-HBC fuses and terminal blocks for the global market as well as switches and sockets for the Greek market.
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