(Repeats to additional Reuters clients)
(Corrects dateline to March 24 from May 24)
PARIS, March 24 France's Schneider Electric
(SCHN.PA) said Thursday it had signed an agreement to buy
US-based energy procurement company Summit Energy Services for
Schneider said that Summit is expected to generate revenues
of $65 million in 2011 and had an earnings before interest tax
and amortisation margin above the Schneider Electric average.
Schneider said the purchase should help the company
compliment its efforts in the field of energy auditing and
The purchase should be accretive to earnings per share in
the first year.
(Reporting by Nina Sovich; Editing by Christian Plumb)