By Anthony Shevlin 
 

Schneider Electric SE (SU.FR) said Friday that its part-owned Delixi Electric Ltd. has acquired Zhejiang Delixi International Electric Industry Co. Ltd and Delixi Instrument & Meter Co. Ltd.

Schneider Electric, which owns 50% of Delixi Electric, said the acquisitions would raise Delixi's annual revenue to around 1 billion euros ($1.14 billion) on a pro forma basis.

Both acquisitions were funded by cash on Delixi's balance sheet and bank debt, Schneider said.

 

Write to Anthony Shevlin at anthony.shevlin@dowjones.com; @anthony_shevlin

 

(END) Dow Jones Newswires

January 04, 2019 03:20 ET (08:20 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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