CBI-electric: low voltage has reported a better than expected increase in Moeller sales for the first 12 months since acquisition, while bottom-line performance has improved in line with projections.
Announcing these results, Chris Oliver, managing director of CBI-electric: low voltage, noted that the merger had proceeded smoothly.
“Our decision to position Moeller as an independent entity has worked exceptionally well,” Oliver said. “I believe we did the right thing by leaving Moeller’s operational format unchanged. This position will be maintained for the foreseeable future.”
Moeller’s acquisition has meant that customers have benefited from access to a wider range of products and solutions and the division has been able to take advantage of market opportunities that could not be serviced with its traditional products.
Steve Venter, acting divisional manager CBI-electric: industrial controls (Moeller Division), noted that key capabilities in the organisation had been strengthened.
“Specific attention has been paid to engineering, product management and sales,” Venter said. “Our focus in the year ahead will be on recruitment, which will enable us to capitalise on opportunities in niche markets.”
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