Mikano, Schneider Electric seal distribution deal

Schneider Electric, the global energy Management Company, and Mikano International Limited have signed a Memorandum of Understanding on the distribution of electrical products manufactured by the former.

According to a statement on Friday, the agreement covers the sale and  distribution  of Schneider Electric’s low voltage products and equipment in electrical distribution in order to enhance the accessibility of the products to Nigerians and support local companies.

Under the terms of the agreement, the Country President, Schneider Electric, Mr. Marcel Hochet,  said Mikano would sell and distribute Schneider Electric’s low voltage products such as circuit breakers, distribution boards, contractors, motor starters, control and signalling units, as well as switches and sockets, among others.

It said Mikano was expected to use its extensive geographical spread across Nigeria to boost Schneider Electric spread.

Hochet explained that the agreement would also enable Mikano to grow its business portfolio and benefit from Schneider Electric’s products and solutions especially for its own needs in generator control panels and systems.

The Schneider Electric’s country boss described the agreement as an opportunity for both companies to collaborate and leverage their strength to improve local access to Schneider Electric’s products.

He said the agreement also demonstrated Schneider Electric’s commitment to develop and support local companies.

Hochet said, “The agreement with Mikano will help our two companies to deliver Schneider Electric’s quality power products to Nigerians utilising Mikano’s geographical distribution spread across Nigeria.

“Access to our products means Nigerians can enjoy the unique products and after sales service offer by Schneider Electric. On the other hand, we have demonstrated our readiness to support the development of local companies to enhance their operational capacity.”

The Chairman, Mikano International, Mr. Mofid Karameh, said that Mikano’s investment in electrical distribution, through the partnership, was in line with the ongoing transformation of the Nigerian power sector and a window to position itself as a leading local partner to Schneider Electric.

“As a forward thinking company, we are not unmindful of the emerging opportunities which the current transformation of the Nigerian power sector offers. The agreement will help us to tap into this opportunity and strengthen our brand presence,” he said.

The French Minister for Foreign Trade, Nicole Bricq, who was at the event, commended Schneider Electric for its investment in Nigeria.

She described the agreement as a proof of the growing business relationship between France and Nigeria.

Bricq called on other French companies to explore investment opportunities in Nigeria, considering the country’s position as one of the biggest economies in the Sub-Saharan Africa.

She added that improved investment in Nigeria by French companies would enhance trade and bilateral relations between Nigeria and France.

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