Schneider Electric's Delixi Electric Expands Activities in China
January 04 2019 - 03:35AM
Dow Jones News
By Anthony Shevlin
Schneider Electric SE (SU.FR) said Friday that its part-owned
Delixi Electric Ltd. has acquired Zhejiang Delixi International
Electric Industry Co. Ltd and Delixi Instrument & Meter Co.
Ltd.
Schneider Electric, which owns 50% of Delixi Electric, said the
acquisitions would raise Delixi's annual revenue to around 1
billion euros ($1.14 billion) on a pro forma basis.
Both acquisitions were funded by cash on Delixi's balance sheet
and bank debt, Schneider said.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com;
@anthony_shevlin
(END) Dow Jones Newswires
January 04, 2019 03:20 ET (08:20 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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