Citing a century of corporate stewardship in Foxboro, Schneider Electric this week announced plans to donate a quarter-million dollars to help underwrite two separate community initiatives.
In a letter dated March 2, Schneider said it would earmark $150,000 for a planned modernization or the electrical distribution system supplying the town Common. This would include new control systems, lighting and other power-related infrastructure.
In addition, Schneider said it will contribute $100,000 to a scholarship fund targeting high school graduates pursuing careers in STEM (science, technology, engineering and math) professions.
“We believe strongly in investing in Foxboro and are proud to fund these two very important initiatives,” stated Steven Sacco, Schneider’s vice president for safety, environment and real estate.
Sacco’s letter said the Common project will enhance the efficiency of the electrical infrastructure in a safe and sustainable manner, “ensuring the town Common remains a central point of community action and activity for future generations.”
Referring to the donations as “extraordinary,” Town Manager William Keegan noted the town had already committed to a program of improving electric service on the Common – and was planning to present a capital request to voters at the upcoming May town meeting.
With Schneider’s gift now providing primary funding for the project, Keegan said that appropriation will no longer be necessary.
“This takes a huge amount of pressure off that process,” he said at Tuesday night’s selectmen’s meeting. “This is really a tremendous opportunity for the community.”
At Keegan’s request, selectmen informally accepted the gift, reserving final action until the board’s March 17 meeting – when Sacco and/or other Schneider officials will be invited to participate.
Founded in 1908 by Edgar H. and Bennet B. Bristol, the Foxboro Company and was acquired by Siebe plc of Windsor, UK, in 1990 for a reported $655 million. Following a subsequent 1999 merger, Foxboro/Invensys remained as a brand under Invensys Systems Inc., which in turn was acquired by Schneider Electric in 2014.
Headquartered in France, Schneider manages a global portfolio with more than a dozen major subsidiaries contributing to software, critical power and smart-grid applications.
About Schneider Electric
Schneider Electric is leading the Digital Transformation of Energy Management and Automation in Homes, Buildings, Data Centers, Infrastructure and Industries. With global presence in over 100 countries, Schneider is the undisputable leader in Power Management – Medium Voltage, Low Voltage and Secure Power, and in Automation Systems. We provide integrated efficiency solutions, combining energy, automation and software. In our global Ecosystem, we collaborate with the largest Partner, Integrator and Developer Community on our Open Platform to deliver real-time control and operational efficiency. We believe that great people and partners make Schneider a great company and that our commitment to Innovation, Diversity and Sustainability ensures that Life Is On everywhere, for everyone and at every moment.