Rehau will continue to operate this section still this year....
Rehau will continue to operate this section still this year. From the beginning of 2020, OBO Bettermann will then market these PVC cable trunking systems under the brand "REHAU - Cable Management by OBO", whereby the relevant competition authorities still have to agree.
nVent Electric, is a world leader in electrical connection and protection solutions, acquired....
nVent Electric, is a world leader in electrical connection and protection solutions, acquired the enclosures manufacturer Eldon based in Jaen / Spain on 4 September 2019.
The purchase price is approx.130 m USD (119 m EUR) and the assumption of debts. Eldon manufactures mainly in Romania and in 2018 they had a turnover of approx. 90 m USD (82 m EUR). The purchase has yet to be approved by the competition authority.
The Eldon enclosure program fits well with nVent, which already has a leading position in the market with its Erico, Hoffmann, Schroff, Raychem and Tracer brands.
Jichuan Wu , Minister of the Ministry of Information Industry:.....
Jichuan Wu , Minister of the Ministry of Information Industry: “The focus of 5G is not to replace 4G, but to upgrade the industrial Internet”.
“Where is the application scenario of 5G? It is the industrial Internet.” Jichuan Wu believes that the industrial society is embodied in the form of large factories and assembly lines. However, the future industrial Internet production will be completely different from the traditional production mode. It is the production method based on individualization, digitization and networking
Osram has canceled the existing standstill agreement with AMS and signed a cooperation agreement. .....
Osram has canceled the existing standstill agreement with AMS and signed a cooperation agreement. This allows the Austrian semiconductor group to submit a voluntary public takeover bid. The offer is expected to be at 38.50 EUR in cash per share, i.e. 10% more than from the financial investors Bain Capital and the Carlyle group. However, the condition for the sale is that at least 70% of Osram shareholders sell their securities.
Olaf Berlien, CEO of OSRAM Licht AG, is pleased that his shareholders can now choose between two offers. It is important for him in addition to a secure financing, the preservation of the interests of his employees. The cooperation agreement with AMS therefore stipulates that Munich will become Co-headquarter with global central functions and the name Osram will remain.
The big challenge lies in the fact that an industrial group with almost 4 bn EUR turnover should be taken over by a much smaller company.
The digital business and the consumer business with LED lamps, however, will be sold.
The deal must still be approved by the relevant competition authorities.
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.
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.
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.
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).