This week, the city of El Paso announced that Fortune 500 multi-national Schneider Electric selected our city for their new manufacturing plant. The plant is expected to bring 400 jobs to the city, which is great. Also great…Schneider is recognized as one of the “World’s Most Admired” companies.
Some quick facts:
Schneider Electric was founded in 1836 and is headquartered in Rueil-Malmaison, France.
In Fiscal Year 2020, the company posted revenues of 25.2 billion Euros. That’s about 28.7 billion in U.S. dollars.
The new plant will be situated in West El Paso. The new 160,000 square foot manufacturing plant will be at the corner of Northwestern and Northern Pass, right across the street from its current location.
The new plant will be the fourth for Schneider in El Paso. The company currently employs about 1,300 workers in El Paso. The new factory, expected to be completed late in 2022 will bring the number of employees to around 1,700 making Schneider one of the largest employers in El Paso.
El Paso County Judge Ricardo Samaniego says Schneider provides “good-paying jobs and millions of dollars in private investment”.
Schneider Electric, for the fifth consecutive year, has been named one of Fortune Magazine’s list of the World’s Most Admired Companies.
The “Most Admired” list looks at criteria such as quality of management, investment value, and social responsibility. The companies topping the Fortune Most Admired Companies list are Apple, Amazon, and Microsoft, in that order. Apple has held that number one spot for 15 straight years in a row.