28
Aug

The Danish electrical wholesaler A & O Johansen achieved sales of....

The Danish electrical wholesaler A & O Johansen achieved sales of 1,718.1 m DKK (243.8 m EUR) in the first half of 2019, which is 5% more than in the same period of last year.

The operating profit (EBIT) was 83.6 m DKK (11.2 m EUR); here an increase of 4.9%.

Profit before tax amounted to 80.3 m DKK (10.8 m EUR), an increase of 13.9% to the previous year.

For the second time in only 4 years, A & O received the e-commerce award from the Danish E-Commerce Association FDIH. The CFO Henrik T. Krabbe will be leaving at the end of the year. The Board of Directors was authorized to acquire own preference shares equivalent to a total of 10 % of the Company’s share capital. 

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14
Aug

The ABB Board of Directors has unanimously appointed Björn Rosengren (60),.....

The ABB Board of Directors has unanimously appointed Björn Rosengren (60), a Swedish citizen, as the new CEO. Rosengren will join ABB on February 1, 2020, succeeding Peter Voser on March 1, 2020; thereafter Voser will resume his position with ABB as Chairman of the Board.

Rosengren comes from Sandvik, where he served as CEO since 2015, before that he was with Wärtsilä Corp. and 13 years with Atlas Copco, i.e. he is a very experienced industrial manager whom ABB needs in the next phase of its transformation.

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13
Aug

In our electro-insider on July 9, we reported that Osram is going to be sold,....

In our electro-insider on July 9, we reported that Osram is going to be sold, whereupon a bidder consortium from Bain Capital and the Carlyle Group wanted to completely take over Osram and offered 35 EUR per share in cash.


Now, the Austrian semiconductor group AMS from Premstetten has submitted an offer for 38.50 EUR per share, which would be about 300 m EUR more than from the financial consortium.

However, the committee headed by the Osram CEO, Olaf Berlien, supports the offer of the two financial investors, who have founded a holding called Luz (C-BC) Bidco GmbH specifically for this takeover.


If Luz Bidco gets the contract, it is, amongst other things, the goal of taking Osram from the stock market.

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In the months from January to June, Rexel increased its sales by 2.4% to 6,799.5 m EUR.

In the months from January to June, Rexel increased its sales by 2.4% to 6,799.5 m EUR. Net profit increased by 70.6% to 163.9 m EUR.
In Europe, sales were down 0.2%, North America up 7.6%, and the Asian-Pacific region up 0.8%.
Rexel was hit particularly hard by the branch closures in the United Kingdom (30 closures) and in Germany (17 closures).

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China's electrical industry is stepping up innovation and gradually increases its global competitiveness.
 

China's electrical industry is stepping up innovation and gradually increases its global competitiveness

The entire Chinese electrical industry is actively and independently researching and developing key components and materials for power systems to effectively drive the transformation and modernization of the industry.

After years of development, China has become the largest country in the production of electrical and magnetic materials. Electrical products such as motors, wires and cables, as well as power supplies are being enhanced, with China benefiting from the advancement of the industrial environment, and is gradually becoming the world's largest and most advanced electrical appliance market.

Despite competition from abroad, China is striving to change from "electrical equipment manufacturer" to "electrical technology superpower".

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With the theme of “Industrial Internet + Innovation-Drive”, this annual meeting invited senior industry experts to conduct in-depth discussions on the development prospect of industrial Internet application trends, and the latest technological developments of low-voltage electrical appliances etc.

With the theme of “Industrial Internet + Innovation-Drive”, this annual meeting invited senior industry experts to conduct in-depth discussions on the development prospect of industrial Internet application trends, and the latest technological developments of low-voltage electrical appliances etc.

Well-known enterprises participating in this annual conference: Changshu Switch Manufacturing Co., Ltd., Shanghai Liangxin Electric Co., Ltd., Zhejiang Chint Electric 

Co., Ltd., Beijing People's Electric Plant Co., Ltd., Xiamen Hongfa Switch Co., Ltd. Jiangsu Daquan KFINE Electric Co., Ltd., Hangshen Group·Hangzhou Zhijiang Switch Co., Ltd., Suzhou Future Electric Co., Ltd., Jbang Group Co., Ltd., Fatai Electric (Jiangsu) Co., Ltd., just to name the best known.

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22
Jul

As researched by our correspondent, the 100 largest electrical installation companies in China have a turnover of 346,983,880 thousand Yuan (44,952,322,048 EUR).

As researched by our correspondent, the 100 largest electrical installation companies in China have a turnover of 346,983,880 thousand Yuan (44,952,322,048 EUR). Number 1 is the Henan Senyuan Group with 40,837,867 thousand Yuan (5,289,104 thousand EUR) followed by the China Xidian Group; No.3 is Zhejiang Zhengtai Electric, No.4 is Shanghai ABB Enginering.

If you want the complete list of the 100 companies; write us a short mail and we will send it to you free of charge. A service from electro-insider.
 

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09
Jul

A bidding consortium comprising Bain Capital and the Carlyle Group ...

A bidding consortium comprising Bain Capital and the Carlyle Group has submitted a legally binding transaction offer to the management board and the supervisory board of OSRAM Licht AG for the public takeover of all Osram shares.

Osram and the consortium have also signed an investor agreement that includes comprehensive commitments. Bain and Carlyle have assured that they will fully support the management team and work closely with the current board to drive the transformation of Osram forward. Osram will  continue after the takeover under the existing name. The company headquarters remain in Munich, and the rights to all patents remain with Osram.

As part of the public takeover offer, shareholders will be offered 35 EUR per share in cash. This corresponds to a premium of around 21% compared to the last closing price of the Osram share.

Olaf Berlien, the CEO of Osram, supports the offer.

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