Beijing, China, October 31, 2007 – Schneider Electric (Euronext: SCHN) completed today the formation of the 50/50 Joint Venture with Delixi Group, following the approval of the Ministry of Commerce of the People’s Republic of China and the satisfaction of the other conditions.
This Joint Venture named Delixi Electric will be dedicated to the manufacturing, marketing and distribution of Low Voltage products. It will focus on addressing the Chinese market needs, and, through an exclusive relation with Schneider Electric, will also expand its specific business model into other targeted countries.
Delixi Group is one of the local leaders in the Chinese electrical distribution field employing about 14,000 employees across China. Delixi is recognized as one of China’s famous brands.
About Schneider Electric
Schneider Electric, the world's power and control specialist, anticipates and satisfies its customers' requirements in the residential, building, industry and energy and infrastructure markets. With 112,000 employees and operations in 190 countries, Schneider Electric generated revenue of €13.7 billion in 2006 through 15,000 distributor outlets.
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