SCHNEIDER ELECTRIC (EPA:SU) - Delixi Electric further expands its activities in China
Transparency directive : regulatory news
04/01/2019 08:55
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Financial informationDelixi Electric further expands its activities in China
Rueil-Malmaison (France), January 4, 2019: Schneider Electric announces that
Delixi Electric Ltd., China (50% owned by Schneider Electric) is expanding its
business through two complementary acquisitions. It has acquired Zhejiang
Delixi International Electric Industry Co., Ltd., a manufacturer of wiring
devices, and Delixi Instrument & Meter Co., Ltd., a provider of tariff, power
and gas meters. The acquired businesses will expand Delixi Electric's product
offering and offer opportunities for cost and revenue synergies.
Pro-forma for the two acquisitions, Delixi Electric's annual revenues would be
close to RMB 8 billion (c.EUR1 billion). The acquisitions have been funded by
Delixi Electric through cash on balance sheet and bank debt.
Schneider Electric accounts for its investment in Delixi Electric using the
equity method.
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
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Investor Relations
Schneider Electric
Amit Bhalla
Tel: +44 20 7592 8216
www.schneider-electric.com
ISIN : FR0000121972
Press Contact :
Schneider Electric
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Tel : +33 (0)1 41 29 70 76
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