Schneider Electric: two acquisitions by Delixi Electric
(CercleFinance.com) - Schneider Electric announces that Delixi Electric China, in which it has a 50% stake, has acquired Zhejiang Delixi International Electrical Co, an electrical equipment manufacturer, and Delixi meter Co Ltd, a supplier of electricity and gas meters.
Both these acquisitions, which Delixi Electric has paid for in cash and debt, will help to extend the company's product offerings and generate synergies in costs and sales.
Delixi Electric's sales are almost one billion euros on a pro-forma basis, taking into account these acquisitions. Its results are accounted for under the equity method in Schneider Electric's accounts.
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