Schneider Electric to invest €150 million in France, close plant

By Mathias de Rozario

Sept 9 (Reuters) - Schneider Electric will invest €150 million ($175 million) in France and close a factory as part of a plan to improve its competitiveness in the country, the French industrial group said on Wednesday.

Schneider plans to close its Chasseneuil-du-Poitou factory by March 2028, a spokesperson told Reuters.

"As for the 145 staff members, we are now going to begin a phase of negotiations, (...) and this will be discussed on a case-by-case basis," he said, adding that finding positions within the company would be prioritised. 

Production will mainly be transferred to Schneider's Dijon site to strengthen its industrial focus, the company said.

The company will also build a new site in Evreux, bringing together the production and research and development expertise of its three existing sites in Normandy.

While Schneider operates in market segments benefiting from sustained growth linked to electrification and digitalisation projects, it is also facing volume saturation in its industrial markets, the company said.

"The goal is to become more competitive in markets where there is currently very strong pressure on prices," the spokesperson said.  

($1 = 0.8585 euros)

(Reporting by Mathias de Rozario in Gdansk. Editing by Mark Potter)