APC 2011 Annual Report Download - page 14

12 2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC
2011 IN BRIEF
Energy efficiency
On March24, 2011, Schneider Electric announced the signature
of an agreement to acquire Summit Energy Services Inc., an
American company leader in outsourced energy procurement and
sustainability services to industrial, commercial and institutional
enterprises. It is employing more than 350 individuals based
in 11 international offi ces across North America and Europe
and serves client facilities in more than 90 countries. Summit
Energy is a fast-growing business, expected to generate sales of
approximately USD65million for the current year. The acquisition
of Summit Energy allows Schneider Electric to broaden its energy
management services and solution portfolio, offering customers the
ability to manage and optimize their energy consumption from the
supply side through the demand side, while also growing Schneider
Electric’s energy and environmental online reporting capabilities.
Venture capital
On February 23, 2011, Aster Capital announced Rhodia’s
acquisition of an interest in Aster II, the venture capital fund targeting
innovative technology start-ups. This fund, specifi cally focused
on energy, advanced materials and environment sectors, should
eventually raise EUR120 to 150million. Joining forces in this novel
multi-corporate venture capital fund, the three sponsors–Alstom,
Rhodia and Schneider Electric – will actively promote the
development of young and innovative companies. By fostering
cooperation and partnerships, it will guarantee the relevance of
technologies and markets assessed to investors. Companies in the
fund’s portfolio will also have access to the global network of each
of the threepartners.
Bond issues and sale of treasury stock
On June30, 2011, Schneider Electric refi nanced part of its debt
and just closed a USD300 million private placement (approx.
EUR210 million). This transaction made under the Schneider
Electric EMTN programme has a fl oating coupon (3-month LIBOR
+0.49%) and matures in July2014.
On July1st, 2011, Schneider Electric launched a EUR750million
EMTN (Euro Medium Term Note) issue maturing in July 2018.
Thecoupon rate for this bond is 3.75percent.
On September 15, 2011, Schneider Electric launched a
EUR500million EMTN (Euro Medium Term Note) issue maturing in
January2019. The coupon rate for this bond is 3.50percent.
Division of the nominal values of the shares
At the Annual Shareholders’ Meeting held on April 21, 2011,
Schneider Electric shareholders approved the division of the
nominal value of the shares by two. The Management Board
decided that the share par value split takes effect on September2,
2011. The operation makes the shares more accessible particularly
to individual shareholders and also improves the share liquidity.
Effective on September2, 2011, instead of every EUR8 nominal
value share held on that date, shareholders receive two shares of
EUR4 nominal value. The division of the nominal value of the share
does not have an impact on the tax situation or the rights of the
shareholders. It is carried out at no expense or formalities for them.
Innovation, partnerships and major contracts
On March 15, 2011, Schneider Electric and the City of
Rueil- Malmaison signed the fi rst agreement to trial an energy
effi ciency programme in France. The fi rst of its kind involving a
municipality, the energy effi ciency programme will initially be trialled
at the city library and the Claude Monet middle school in Rueil-
Malmaison. Over eight years, the programme is expected to reduce
energy use at the sites concerned by 20%, thereby trimming the
city’s energy bill and shrinking its environmental footprint.
On April19, 2011, Schneider Electric is awarded a turnkey contract
to supply the electrical installation for the future Queensland
Curtis liquefi ed natural gas LNG Project being built by US-based
construction contractor Bechtel.
On April 27, 2011, Schneider Electric announced a project with
North Carolina State University (USA) to improve energy effi ciency
and drive sustainable, clean energy projects in 1.6million square
feet of building space across 13 campus facilities. As part of a
USD20 million performance contracting project, the university
will implement facility improvements, equipment upgrades and
energy- effi cient techniques to impact energy use, operations,
reliability and comfort.
On May17, 2011, Schneider Electric, in association with Derceto,
Echologics (a division of Mueller Water), i2O Water, TaKaDu and
Telvent, announced the creation of Smart Water Networks (SWAN),
a global industrial alliance formed to promote the development
and adoption of data-driven systems for better water network
management and operation.
On May 31, 2011, The City of Issy-les-Moulineaux, Schneider
Electric, Alstom, Bouygues Immobilier, Bouygues Telecom, ERDF,
ETDE, Microsoft, Steria and Total created IssyGrid®. This fi rst
district smart grid in France will be built in the Seine Ouest business
district in Issy-les-Moulineaux with the goal of enabling energy
optimization at the neighborhood level.
On June15, 2011, Soitec and Schneider Electric announced that
they have signed a memorandum of understanding with Masen
(Moroccan Agency for Solar Energy) on an integrated partnership
on CPV technology. The memorandum of understanding between
Soitec, Schneider Electric and Masen is part of the Moroccan Solar
Plan. It is supported jointly by the Moroccan and French governments.
It has four key components: Research& Development; Industrial
integration; Training; Pilot projects.
On June 15, 2011, in a world fi rst, Schneider Electric’s head
offi ce (known has the Hive) has been certifi ed as complying with
the new ISO 50001 standard for energy management systems.
Schneider Electric is pursuing its commitment to continuously
improving the energy effi ciency of its buildings, reducing their
environmental footprint and enhancing user comfort.
On July 13, 2011, Schneider Electric announced that it has
teamed with Cisco to provide an innovative comprehensive
energy management solution that monitors and manages energy
consumption across all building domains. With this combined
solution, building owners and managers, architects, contractors,