Financial information

Delixi 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. €1 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 On everywhere, for everyone and at every moment.www.schneider-electric.com

Discover Life is On

Innovation At Every Level

Follow us on:

Page | 1

Investor Relations

Press Contact :

Press Contact :

Schneider Electric

Schneider Electric

DGM

Amit Bhalla

Véronique Roquet-Montégon

Michel Calzaroni

Tel: +44 20 7592 8216

Tel : +33 (0)1 41 29 70 76

Olivier Labesse

www.schneider-electric.com

Fax : +33 (0)1 41 29 88 14

Phone : +33 (0)1 40 70 11 89

ISIN : FR0000121972

Fax : +33 (0)1 40 70 90 46

Attachments

  • Original document
  • Permalink

Disclaimer

Schneider Electric SE published this content on 04 January 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 04 January 2019 08:48:02 UTC