APC 2010 Annual Report Download - page 14

2010 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC12
2010 IN BRIEF
Energy efficiency
On December9, 2010 Schneider Electric announced the acquisition
of two French companies operating as pioneers in building
management software: Vizelia, a software provider of real time
energy monitoring of buildings and D5X, a specialist in solutions to
optimise commercial space utilisation. Vizelia employs 12people
and is expected to generate revenue of EUR4million in 2010; D5X
employs 27people and is expected to generate revenue of more
than EUR4million in 2010. The acquisitions will enable Schneider
Electric to complement its range of solutions for integrated building
management and reinforce the added value it provides to end users
and property owners.
Venture capital
On January14, 2010 Alstom and Schneider Electric announced
the creation of a joint venture capital fund to fi nance innovative
start-ups operating in the areas of energy and the environment.
The Paris-based fund called Aster Capital will progressively receive
EUR70 million of capital, of which EUR40 million to be provided
by Schneider Electric and EUR30 million by Alstom. Other
industrial partners will be welcomed with the ambition of creating
the benchmark European venture capital fund for energy and the
environment.
Bond issues and sale of treasury stock
On July9, 2010 Schneider Electric announced two bond issues (for
a total amount of EUR800million), as well as the partial buy-back of
the bond issue maturing in July2013, thereby providing refi nancing
for the EUR900million bond issue maturing in August2010 and
extending the overall maturity of the Group’s debt.
On July19, 2010, the partial buy-back announced for the bond
maturing in July of 2013 was accepted. This will reduce the Group’s
overall borrowing rate with effect from 2011 since the issue carries
a 6.75% fi xed rate of interest.
On October 21, 2010 Schneider Electric announced that its
Belgian subsidiaries Cofi bel and Cofi mines were respectively
to sell 2,035,108 and 432,205 shares in Schneider Electric SA
(representing about 0.9% of the Company’s capital). Cofi bel and
Cofi mines, which have minority shareholders, had held these shares
for a long time. The transactions were designed to contribute to
simplifying the Group’s structure.
Innovation, partnerships and major contracts
On January 13, 2010 Schneider Electric announced a strategic
partnership with Masdar, Abu Dhabi’s multi-faceted renewable
energy company and a wholly-owned subsidiary of the Mubadala
Development Company (Mubadala). The agreement covers
broad partnership initiatives between the two entities. Schneider
Electric will provide energy effi ciency solutions for data centers
and renewable energy solutions for Masdar City – the 6km2 clean-
technology cluster in Abu Dhabi.
On February2, 2010 Schneider Electric, as part of a consortium with
ENEX, signed an agreement with the city of Ashgabat (population of
over 600,000), the capital of Turkmenistan, to enhance the reliability
of the municipal power grid.
On February 3, 2010, in New Delhi (India), Schneider Electric
launched In-Diya, a highly energy-effi cient LED-based lighting
system, to provide lighting to people living with no or unreliable
electricity. In-Diya is the only available LED-based lighting system
which can fully illuminate a typical Indian rural house. Schneider
Electric’s unique R&D and manufacturing capabilities were utilised
to offer a high-quality product at an affordable price.
On May 14, 2010, on the occasion of an important visit to
present their joint projects in solar energy, Schneider Electric and
Solairedirect announced a plan to expand their activity in solar
energy in Morocco. This visit represents a unique opportunity for
a potential partnership with several Moroccan institutions for the
Moroccan Solar Plan, especially concerning the project of a 2GW
generation capacity using solar solutions by 2020.
On June16, 2010 Schneider Electric and Parkeon announced the
signature of an agreement for the development of an electric vehicle
charging system, integrating energy management and pay by
space technology. This agreement will allow the partners to create
a commercial and technical offer for pilots on electric vehicles and
related charging infrastructures in Europe and North America.
On July 22, 2010 Schneider Electric announced that it was
partnering with Big C, the leader in retail distribution in Vietnam,
to improve management of energy consumption, operations and
comfort in ten of its supermarkets throughout Vietnam. Schneider
Electric will design and implement an energy management system
allowing Big C to access energy data and manage its consumption
for its ten stores at its Vietnam head offi ce in real time. The project
includes power measurement equipment and three years of
technical maintenance and services.
On September9, 2010 AES SOLE Italia chose Schneider Electric
as the main EPC (Engineering, Procurement and Construction)
contractor for the construction, operation and maintenance of
an ambitious solar energy project in the Puglia region (Italy). The
photovoltaic power plant will have a yearly power output of 56 GWh.
On September 24, 2010 Schneider Electric announced it had
implemented an intelligent building management system for the
Institut du Cerveau et de la Moelle épinière (ICM), a world center
for research located at the heart of the Pitié-Salpêtrière Hospital
Group in Paris.