China

News aus der Elektroindustrie

20
May

As we learned today, Rexel has sold its three Chinese companies,

As we learned today, Rexel has sold its three Chinese companies, Luckywell International Investment Ltd. and Beijing Luckywell Electrical Co., Ltd. on 31.1 2019 and Shanghai Maxqueen Industry Development Co. ltd. on 30.4.2019. To whom was not communicated.

 

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As we have already reported several times, Osram has sold its lamp division (now Ledvance) to a consortium..........

As we have already reported several times, Osram has sold its lamp division (now Ledvance) to a consortium..........

from China for over EUR 400 m. The buyer was and is a Chinese consortium consisting of the lighting company MLS and the two financial investors IDG Capital Partners (IDG) and Yiwu State Owned Assets Operations Center (Yiwu).

MLS has now fully taken over the company shares from the previous two partners and is thus the sole owner of Ledvance. At the same time, it was agreed that IDG and Yiwu will become shareholders of MSL through a joint investment.

The change of ownership has no effect on the legal form of Ledvance as a German GmbH. The headquarters of the company remain, as before, in Garching.
 

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Eugene Wu will start work at Sonepar on 1st November and succeed Keith Moss, who is retiring, as managing director for the Asia-Pacific Region in March 2016.

Eugene Wu will start work at Sonepar on 1st November and succeed Keith Moss, who is retiring, as managing director for the Asia-Pacific Region in March 2016.

Wu studied engineering and business administration in China and the USA and spent most of his time in the chemical industry in the USA and China.

Most recently he was vice-president at Donaldson Co. Inc. and responsible for the Asia-Pacific Region.

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According to the dpa an important early indicator for the Chinese economy has fallen to its lowest level for six years. The purchasing managers’ index (PMI) in the processing industries,.............

According to the dpa an important early indicator for the Chinese economy has fallen to its lowest level for six years. The purchasing managers’ index (PMI) in the processing industries,.............

which measures the mood in the top management of production companies, fell from 47.3 to 47 points in September.

This has been reported in the Chinese business magazine Caixin in a preliminary assessment and means that the index has fallen to its lowest level since March 2009.

On average analysts had expected a figure of 47.5 points. Values ranging over the critical limit of 50 points indicate a positive mood in the economy, while below it a recession is to be expected.

Prior to these surprisingly weak economic data China’s president Xi Jinping had continued to draw a positive picture of the economic trend, saying that the economy lay in a reasonable range and that the world’s second-largest economy had come under pressure in the last few months. He went on to point out that this was to be expected due to the “complex” and “volatile” global economic situation.

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On 21st July 2015 we reported on electro-insider on the interest of Chinese investors in parts of Osram lighting group. Now it is official:

On 21st July 2015 we reported on electro-insider on the interest of Chinese investors in parts of Osram lighting group. Now it is official:

Osram is selling its 13.5% stake in the Chinese company Foshan Electrical and Lighting Co. (Felco) for more than EUR 350 m to a subsidiary of Guangdong Rising Assets Management Co. Ltd. The price lies around 30% above Felco’s current share price.

Osram expects a pre-tax profit of EUR 300 m from this transaction, which is to be posted in the 2016 business year.

The net proceeds are to be employed for further out-financing its worldwide fully funded pension commitments.

The transaction is subject to the consent of the relevant Chinese regulation authorities, and is expected to be concluded in December.

Felco manufactures and sells illuminents in particular and is quoted on the Schenzhen, China, stock exchange. Guangdong Rising Assets Management Co., Ltd. generated a turnover equivalent to more than EUR 6 bn in 2014 and presented a balance sheet total of over EUR 15 bn.

Osram wants to completely part with the conventional lamps business and concentrate on special lighting and LED semi-conductors in future.
 

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According to information from the dpa, Chinese investors have apparently expressed interest in parts of the business of the lighting technology group Osram.

According to information from the dpa, Chinese investors have apparently expressed interest in parts of the business of the lighting technology group Osram.

The company Feilo Acoustics has informed its shareholders of its interest in the acquisition in a letter, referring to the plans of the traditional group from Munich. Osram has announced its plans to outsource its lamps business by the coming spring, so that the Chinese company is considering the purchase of parts of the traditional lighting business and the LED division.

An Osram spokesman refused to comment any further on the matter, saying that no purchase process has been initiated for the lamp business. Should the interest actually refer to the Osram division which is to be outsourced, then this shows that there is a certain interest.

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In February Rexel took over 60% of the company Maxqueen, which is based in Shanghai, and now wants to participate in the building of Chinese data centres.

In February Rexel took over 60% of the company Maxqueen, which is based in Shanghai, and now wants to participate in the building of Chinese data centres.

Maxqueen operates 7 branches and is a leading distributor in building automation systems like data communication, cabling solutions and cooling systems, working mainly in the banking sector etc.

In 2014 its turnover amounted to about EUR 20 m and 130 people are employed.

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According to the ZVEI the exports of the industry climbed by 4.9% last year to EUR 165.5 bn, exceeding the existing all time high of EUR 159.9 bn from 2012.

According to the ZVEI the exports of the industry climbed by 4.9% last year to EUR 165.5 bn, exceeding the existing all time high of EUR 159.9 bn from 2012.

In December 2014 alone exports grew by 15.4% against the prior year to EUR 13.7 bn, the highest figure ever achieved for December.

It is China that the electrical industry has to thank especially for its export record, with exports to this country rising by 16.1% in 2014 to EUR 14.9 bn, making the People’s Republic the largest customer for German electrical exports for the first time. Furthermore, an absolute growth of EUR 2.1 bn made the absolute contribution of the Chinese business the largest to the electrical industry’s absolute export growth last year.

Russia dropped out of the top ten with a 22.4% decline in exports to EUR 4.2 bn. Additionally, the Russian business, which turned out EUR 1.2 bn lower than in 2013, was the greatest mathematical encumbrance to the industry’s export growth last year.

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Inflation in the world’s second-largest economy has fallen to its lowest level for five years, with consumer prices rising by only 0.8% in January, as reported.......

Inflation in the world’s second-largest economy has fallen to its lowest level for five years, with consumer prices rising by only 0.8% in January, as reported.......

by the official statistics office in Beijing on Tuesday. Analysts had been expecting an inflation rate of 1.0%, with consumer prices having risen by 1.5% again in December.

This low inflation rate points to a weakness in the Chinese economy, and there is growing concern about a possible deflation amongst experts. China’s growth rate of 7, 4% last year was its slowest for 24 years.
 

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