Phoenix Contact and Renu Electronics have been working together for several years. Phoenix Contact deals in components, systems and solutions in the field of electrical engineering, electronics and automation
Renu Electronics has announced the acquisition of Phoenix Contact HMI IPC Technology GmbH to form Renu Electronics GmbH. This will be a 100 per cent owned subsidiary in Germany.
“We are very pleased that we can strengthen our base in Europe with this acquisition. It enables us to have excellent manufacturing and development capacities in Germany with which we can better support our customers. We look forward to growing our business relationships with Phoenix Contact and various other European customers from Germany, supported by our business activities in India,” said Ajay Bhagwat, CEO of Renu Electronics Pvt. Ltd
Renu Electronics, headquartered in Pune, India, provides electronic products and services in the fields of factory automation, home automation, and automotive electronics. The company, with the acquisition, has added 50 members to its base of manufacturing and engineering capabilities in Europe.
Phoenix Contact and Renu Electronics have been working together for several years. Phoenix Contact HMI IPC Technology GmbH (formerly known as Sütron Electronics GmbH) has been a part of the Phoenix Contact Group since 2008. Part of the HMI portfolio of Phoenix Contact has been developed and produced by Renu Electronics. This move, as per the companies, further strengthens the business relationship between the two. Both companies will use the synergies for further strategic development in their respective technologies. The deal is expected to be completed by 31 December 2021.
Phoenix Contact deals in components, systems and solutions in the field of electrical engineering, electronics and automation. The family company currently employs around 17,100 people worldwide and had achieved sales of 2.4 billion euros in 2020. The product range includes components and system solutions for the generation, transport and distribution of energy, device, and machine construction as well as control cabinet construction.
