施耐德电气6.5亿美元收购北京利德华福公司

Schneider Electric acquires Leader Harvest Power Technologies
施耐德电气收购利德华福技术有限公司

June 9, 2011 - Schneider Electric, the global specialist in energy management, announced today that it has signed an agreement to acquire Leader Harvest Power Technologies Holdings Limited (‘Leader & Harvest’), one of the leading players in the fast-growing medium voltage drives market in China.

6月9日消息——全球能效管理专家施耐德电气今天宣布其签署了一份协议，收购利德华福技术控股有限公司，后者是中国快速增长的中压驱动市场的领导企业之一。

Headquartered in Beijing, Leader & Harvest develops, manufactures and commercialises medium voltage (MV) variable speed drives. The company employs over 750 people and has an extensive in-house nationwide sales and service support network across 30 provinces. With an annual growth rate in excess of 20% in the past few years, the company is expected to generate sales of approximately USD 150 million (approx. €100 million) for the current year with an EBITDA margin of about 20%.

总部位于北京的利德华福从事中压（MV）变频器的开发、生产和销售业务。该公司有员工750余人，在全国30个省份拥有销售和服务支持网络。该公司在过去几年中的年增长率超过20%，本年度预计实现销售额约1.5亿美元（约1亿欧元），EBITDA盈余约为20%。

Leader & Harvest brings to Schneider Electric:

利德华福将给施耐德电气带来：

·Technical competency in MV drive technology, a key energy efficiency enabler
·Strong position in MV system drives in the Chinese market, which represents about 40% of the global MV drive market
·Enhanced solutions offerings, especially in the end-markets such as cement, mining and metals and energy
·Very strong front office employing 150 sales representatives and 100 service engineers

·中压变频器技术优势，能源效率的一项关键推动技术
·在占全球中压变频器市场约40%份额的中国市场的中压系统变频器领域占据的强势地位
·完善的解决方案业务，特别是在诸如水泥、采矿、冶金和能源等终端市场
·拥有150名销售代表和100名服务工程师的强大覆盖网络

Schneider Electric recently estimated that energy efficiency would represent an incremental market opportunity of USD45 billion annually by year 2020, a significant portion of which would come from the industrial end-markets in new economies. Drives can provide up to 50% energy savings for industrial motors. MV drives are particularly used in energy-intensive markets such as power generation, mining, minerals and metals, oil and gas, water and water treatment. It is estimated that about 70% of the world’s medium voltage motors are not yet equipped with drives.

施耐德电气最近预计，一直到2020年，节能增效每年将增加450亿美元的市场机会，其中很大一部分将来自新兴经济体的工业终端市场。变频器可以为工业用电机提供最高50%的节能幅度。中压变频器特别适用于能源密集型市场，例如发电、采矿、选矿和冶金、石油和天然气、水和水处理等。全世界估计有约70%的中压电机尚未配备变频器。

The transaction will add another key brick to Schneider Electric’s product and solution offerings that provide energy efficiency to its key targeted end-markets in new economies. Leader & Harvest’s medium voltage drives range from 2 kV to 11 kV, while Schneider Electric is already a leading player in low voltage drives which serve different market segments. Leader & Harvest also improves the Group’s advanced service capability for its customers.

这一收购将是完善施耐德电气在新兴经济体目标市场的节能产品和解决方案的关键举措。利德华福的中压变频器规格从2 kV到11 kV，而施耐德电气在服务于多个不同市场领域的低压变频器方面已经是一家领先企业。利德华福还将提高施耐德电气集团为客户提供高级服务的能力。

Clemens Blum, Executive Vice-President of Schneider Electric’s Industry business, commented: “Leader & Harvest’s range represents an excellent addition to our industrial automation range of products and solutions. Medium voltage drives are a key element of energy efficient solutions to our key target segments of mining, minerals & metals and water & waste water. The transaction also enlarges our customer reach and presence in China which is a key market for our business. It also provides us with the opportunity to increase our penetration in a number of countries, especially in the new economies.”

施耐德电气工业事业部执行副总裁Clemens Blum评价道：“利德华福的产品系列对于我们的工业自动化系列产品和解决方案是一个非常好的补充。中压变频器对我们的采矿、选矿和冶金以及供水和污水处理等关键目标领域的节能增效解决方案是一个关键要素。此项交易还将使我们在中国这一关键市场中扩大客户面和业务范围。它还将使我们有机会提高在多个国家，特别是新兴经济体中的市场渗透度。”

Schneider Electric expects the transaction to be highly synergetic with estimated EBITA impact from synergies of USD 25-30 million in 2015. This would be generated primarily by revenue synergies of USD115 million, to be achieved through cross-selling opportunities to the two companies’ customer bases in China as well as geographical expansion. Schneider Electric also expects cost synergies by adding Leader & Harvest to its business platform in China.

施耐德电气预计此项交易将产生显著的协同效应，到2015年因协同效应而对EBITA的影响估计可达2500-3000万美元。这将主要来自两家公司在中国的客户群进行交叉销售以及业务地理扩张而实现的1.15亿美元的业务收入协同效应。施耐德电气还预期，通过将利德华福加入其在中国的业务平台，还可实现成本的协同效应。

The total purchase price for the company is about USD 650 million (~ € 450 million) on an enterprise value basis, subject to certain adjustments. The completion of the transaction is subject to regulatory approvals. This acquisition is expected to be accretive on earnings per share from year 1 and to meet Schneider Electric’s Return on Capital Employed criteria in 2015.

按企业价值计算，对利德华福的总收购价格约为6.50亿美元（约4.50亿欧元）。此项交易需经监管部门批准方可完成。本收购预计从第一年起实现每股收益的增长，并于2015年达到施耐德电气的已投资资本收益率标准。

About Schneider Electric
关于施耐德电气

As a global specialist in energy management with operations in more than 100 countries, Schneider Electric offers integrated solutions across multiple market segments, including leadership positions in energy and infrastructure, industrial processes, building automation, and data centers/networks, as well as a broad presence in residential applications. Focused on making energy safe, reliable, and efficient, the companys 110,000 plus employees achieved sales of 20 billion euros in 2010, through an active commitment to help individuals and organizations “Make the most of their energy”.

全球能效管理专家施耐德电气为100多个国家的多个市场领域提供整体解决方案， 其中在能源与基础设施、工业过程控制、楼宇自动化、数据中心与网络以及住宅应用等市场处于世界领先地位。致力于为全球客户提供安全、可靠、高效的能源，施耐德电气2010年的销售额为200亿欧元，拥有超过11万名员工。施耐德电气助您――善用其效，尽享其能！