Cree from Durham / NC sells its lighting division (Cree Lighting) to Ideal Industries in Sycamore / IL. The selling price is approx.. 310 m USD (274 m EUR) before tax. Cree expects a down payment of 225 m USD (200 m EUR) and another bonus payment upon completion of the transaction.
 

Cree from Durham / NC sells its lighting division (Cree Lighting) to Ideal Industries in Sycamore / IL. The selling price is approx.. 310 m USD (274 m EUR) before tax. Cree expects a down payment of 225 m USD (200 m EUR) and another bonus payment upon completion of the transaction.

The completion of the transaction is expected for the 4th quarter, after approval by the various antitrust authorities.

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Sonepar took over the Italian wholesale group Elettroveneta from Padua at the beginning of March.

Sonepar took over the Italian wholesale group Elettroveneta from Padua at the beginning of March.

Rumors of a change in the Italian electrical wholesale market have been around for some time, but seeing that Sonepar has taken over Elettroveneta, this was quite surprising.

Elettroveneta is it’s headquarter in Padua with a further 34 branches and has been a member of the Findea marketing organization, which in turn is a member of the international association IDEE.

Until the takeover by Sonepar, Elettroveneta has formed a market community called Sistema E with Ferri Elettroforniture from Pescara and their 11 agencies.
The takeover must still be approved by the respective antitrust authorities.

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13
Mar

With retroactive effect from 1.January, the Belarusian Overdrive Electro (OVD) group has become a member of FEGIME Finland & Baltics. 

With retroactive effect from 1.January, the Belarusian Overdrive Electro (OVD) group has become a member of FEGIME Finland & Baltics. 
Read more The group comprises Overdrive Electro (OVD) and Lokalnye Systemy (LSYS), both from the Republic of Belarus, and the Lithuanian company Gartek. The group has sales offices in Minsk, Grodno and Gomel and they are leaders in the market for low voltage, wiring and automation components. The group was founded in 1999 with 4 salesmen; now over 90 people, including more than 40 in sales, are employed.

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12
Mar

Solar from Denmark takes over the majority of the Swedish Onninen branches from the Finnish parent company Kesko.

Solar from Denmark takes over the majority of the Swedish Onninen branches from the Finnish parent company Kesko.

One talks about the business unit heating and air conditioning and 12 branches, but that is almost the entire distribution network in Sweden. The turnover of the acquired branches amounts to DKK 400 m (EUR 53 m).

The transaction is expected to be completed by the end of the second quarter of 2019 at the latest.

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12
Mar

Siemens has completed the acquisition of Russelectric. Russelectric is headquartered in Hingham / MA and employs approx. 400 people, producing switchgear and other power control systems for the electrical infrastructure. The company will now function as "Russelectric, a Siemens business".

Siemens has completed the acquisition of Russelectric. Russelectric is headquartered in Hingham / MA and employs approx. 400 people, producing switchgear and other power control systems for the electrical infrastructure. The company will now function as "Russelectric, a Siemens business".

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08
Mar

The electrical wholesaler Louis Heuser from Hanover has joined the GC group and thus retired from the marketing organization Fegime.

The electrical wholesaler Louis Heuser from Hanover has joined the GC group and thus retired from the marketing organization Fegime.

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