APC 2014 Annual Report Download - page 13

2014 IN BRIEF
On September 11, 2014, Schneider Electric announced that generation. The solutions developed under this partnership will
Energy University, its free online educational program designed to enable ERDF and Schneider Electric to consolidate the leading
enhance knowledge about sustainability and energy efficiency, position they hold in their respective areas of activity and their
achieved first place in the Learning Category for the 2014 commitment to developing smart grids both in France and abroad.
Sustainable Energy Europe (SEE) Award. This award, for which On November 6, 2014, Schneider Electric signed a contract to
342 projects were submitted in 2014, is presented annually by the supply SEV, the main energy supplier in the Faroe Islands, a new
European Commission during the Sustainable Energy Week. integrated solution for the complete management of the island’s
On October 2, 2014, AREVA and Schneider Electric signed an electrical network for generation, transmission and distribution
R&D agreement to develop a new energy storage solution, called operations. Starting in November 2014, Schneider Electric will
the flow battery, in order to produce and store electricity by deploy its complete suite of advanced software applications for
combining hydrobromic acid and hydrogen. AREVA will lead the microgrids.
project, manufacturing, integrating and installing the storage On November 6, 2014, Schneider Electric, Eiffage and Krinner
solution while Schneider Electric will design, manufacture and announced that they won a contract for the design, construction,
install the complementary power conversion system. operation and maintenance of Europe’s largest photovoltaic power
On November 5, 2014, ERDF and Schneider Electric joined forces, project, worth €285 million. The farm will be connected directly to
as part of a partnership launched over a year ago, to develop and the very-high voltage power grid and is to be powered in October
test innovative software and solutions for medium and low voltage 2015. It will generate more than 350 gigawatt-hours a year,
grid management, for the design and monitoring of substations of enough to cater for the daytime power consumption of the entire
the future and to facilitate the increase in renewable energy population of Bordeaux.
Finance
On February 5, 2014, Schneider Electric announced the signature approvals and subsequently finalized the sale of CST. Schneider
of an agreement for the sale of the Invensys Appliance division, Electric reinvested approximately $100m alongside Carlyle, PAI
which was renamed Robertshaw Controls Company, to an affiliate and CST management to own a shareholding of circa. 30% of
of Sun European Partners, LLP. The disposal followed a strategic CST. The disposal is consistent with the Group's practice to
review of the Appliance division that concluded the unit is not a regularly review its strategic portfolio and focus on energy
core business to Schneider Electric. This disposal enables management and efficiency technologies, integrating
Schneider Electric to focus on the divisions of Industrial complementary power and automation offerings. CST had limited
Automation, Software and Energy Controls of Invensys. On June synergies with other businesses of Schneider Electric.
18, 2014, Schneider Electric announced it obtained all required On August 12, 2014, Schneider Electric announced the signature
regulatory approvals and subsequently finalized the sale of the of an agreement to acquire Günsan Elektrik, the second largest
Invensys Appliance division. The consideration for the transaction player in wiring device accessories serving residential and
was £150 million. commercial buildings markets in Turkey. Based in Istanbul and
On April 3, 2014, Schneider Electric announced it had entered into employing over 300 employees, Günsan Elektrik specializes in
exclusive negotiations with private equity groups The Carlyle group wiring device accessories. It has a wide offering including switches
and PAI Partners for the sale of the entire shareholding in Custom & sockets, miniature circuit breakers and fuse boxes. Günsan
Sensors & Technologies (« CST »), based on an enterprise value of Elektrik will bring to Schneider Electric a well recognized brand, a
$900m (approximately €650m). On May 15, 2014, Schneider diffuse local distributor network and a competitive manufacturing
Electric announced it had accepted the binding offer from The base in Turkey. It will complement Schneider Electric’s premium
Carlyle group and PAI Partners. On October 1, 2014, Schneider offerings with a strong mid-market product range.
Electric announced it had obtained all required regulatory
Employees
On January 27, 2014, Schneider Electric announced the launch of prize was awarded at the final, which was held at the Group's
a capital increase reserved for employees under the Group headquarters, to Jin Deng Keith Chan and Man Ki Lee from The
employee savings plan (plan d’épargne salariale). This offering, Hong Kong University of Science and Technology.
which is in line with the Group’s policy to develop employee On November 15, 2014, Schneider Electric launched the fifth
shareholding, was proposed to Group employees in 38 countries, edition of Go Green in the City, a global business case challenge
including France. This plan covers around 90% of the employees focusing on innovative energy solutions for cities. In the first four
of the Group. editions, Schneider Electric found tremendous success and strong
From June 17 to 20, 2014, Schneider Electric welcomed the 50 interest from students and universities, confirming Schneider
student finalists to its innovative Go Green in the City competition Electric's growing international appeal.
in Paris for the fourth year running. The Go Green in the City 2014
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2014 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC