UPDATE 2-Schneider to streamline after 10-year takeover spree

jueves 20 de febrero de 2014 10:32 GYT

* Sees low single-digit organic sales growth in 2014

* Forex to cut 40 basis points off 2014 EBITA margin

* Prioritises operational efficiency after Invensys deal

* Shares rise 3 percent (Adds share price, company comments on strategy, share buybacks)

By Natalie Huet and Gilles Guillaume

PARIS, Feb 20 (Reuters) - Electrical gear maker Schneider Electric said on Thursday it was shifting its focus to making its existing business more efficient after a decade-long acquisition spree that has seen the group triple in size.

Last year's 3.4-billion-pound ($5.7 billion) takeover of Invensys completed its portfolio and now it aims to strengthen its high-margin industrial automation business and its presence in the energy sector while cutting costs.

It confirmed on Thursday it expects 400 million euros in recurring additional revenue by 2018 and 140 million in recurring cost savings by 2016 from the acquisition.

Shares in Schneider rose 3 percent. Societe Generale analysts wrote in a note: "This is a real shift in the M&A strategy, which should please the market."   Continuación...