Andover Controls Sold to Schneider Electric

ANDOVER, Mass.

Andover Controls Corp., along with its security division
comprised of Integral Technologies and Security Int’l, have
been sold to Schneider Electric for $403 million. Balfour
Beatty, the British building management firm that owned
Andover, anticipates the divestment to create a substantial
revenue increase with which it will focus on core
engineering and construction businesses.

The cash transaction will be completed by the end of July.

Andover provides building controls and security services,
and reported 2003 sales of $169 million. The France-based
Schneider Electric manufactures circuit breakers.

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