ABB Group announced that it will acquire US low-voltage electrical equipment manufacturer Thomas BettsCorp for US$3.9 billion, which will double ABB’s North American low-voltage product business. According to public data, in December 2011, Shanghai Electric's three subsidiaries, Shanghai Electric Ceramics Factory Co., Ltd., Shanghai Electric Transmission & Distribution Engineering Co., Ltd., and Shanghai Electric Transmission & Distribution Test Center Co., Ltd., all transferred 100% of their shares. The company sold 100% of the People's Electrical Factory and 75% of the Power Electronics Co., Ltd. in the second half of the month, and a few days later it transferred a 41% stake in Shanghai-based Schneider Electric Power Automation. The analysis shows that due to the impact of the overall economic situation, the global low-voltage electrical appliance pattern may change drastically in 2012.
According to the announcement, ABB’s bid for Tongbei is US$72 in cash per share, which is a premium of 24% compared to the closing price of Tongbei Stock on January 27. ABB said that the transaction will generate revenue within one year after completion. ABB will enter Tupperware's 6,000 sales outlets in North America through this acquisition to further explore market potential. The Group expects to receive US$200 million in annual synergies from this transaction by 2016. ABB CEO Qian Kun said in the announcement that Tongbei is well-operated and has high brand awareness, and has a perfect distribution channel in this world's largest low-voltage product market. As the products of ABB and Tonbe are complementary, we will provide the market with the most comprehensive products in the industry. From a strategic point of view, this is a perfect match. Tongbei, together with ABB's North American Low Voltage Products business, will form a new global business unit, and will be owned by Tonbin CEO Dominic J. Leader of Pileggi.
According to reports, most of the companies sold by Shanghai Electric are transmission and transformation electronics companies, and their businesses focus on large and medium-sized power transformers, wind power converters, high- and low-voltage fuses, general contracting of transmission and distribution projects and complete sets of equipment. In the case of Shanghai Electric, it will be based on this to collect and collect high-quality clean energy equipment manufacturing assets within the entire group. This series of transfer is due to June 10, 2011, Shanghai Electric and Shanghai Electric Power Company signed a joint venture contract, the two sides jointly funded the establishment of a joint venture company with a registered capital of 2 billion yuan, each of the two sides accounted for 50% of the equity. In the business direction, the joint venture company will aim to meet the needs of the smart grid's next-generation power system and energy conservation and environmental protection. It will focus on the development of UHV equipment, new energy access, energy storage equipment and its control systems, electric vehicle battery power and charge and exchange. Emerging industries such as electric systems. Therefore, the main business of the new company is essentially an integration within the system. The traditional power transmission equipment products and many smart grid and new energy application equipments to be implemented will substantially involve in the construction of smart grids, and after being applied practically, it will help Shanghai Electric's new products quickly gain market expansion.
Globally, the low-voltage electrical appliance industry is an industry with full international competition and high degree of marketization, forming a competitive pattern in which co-existence of multinational companies and domestic domestic competitive companies. Recalling that in the past, the market structure of low-voltage electrical appliances in China presented a typical pyramidal shape, and the market demand for low-end products with relatively low technical thresholds was huge, attracting many market participants, but the market competition was fierce and the overall industry concentration was not high. After foreign competitors stepped into the Chinese market, they used the method of cooperation with domestic production companies to seek for complementary strengths, continuously penetrated the domestic and foreign markets through multiple production lines and multiple channels, and also aggravated market competition. Looking forward to 2012, under the highly competitive pattern, leading enterprises with technological and scale advantages will be in a favorable position, and it is hoped that the industry concentration will be enhanced through mergers and reorganizations.
According to the announcement, ABB’s bid for Tongbei is US$72 in cash per share, which is a premium of 24% compared to the closing price of Tongbei Stock on January 27. ABB said that the transaction will generate revenue within one year after completion. ABB will enter Tupperware's 6,000 sales outlets in North America through this acquisition to further explore market potential. The Group expects to receive US$200 million in annual synergies from this transaction by 2016. ABB CEO Qian Kun said in the announcement that Tongbei is well-operated and has high brand awareness, and has a perfect distribution channel in this world's largest low-voltage product market. As the products of ABB and Tonbe are complementary, we will provide the market with the most comprehensive products in the industry. From a strategic point of view, this is a perfect match. Tongbei, together with ABB's North American Low Voltage Products business, will form a new global business unit, and will be owned by Tonbin CEO Dominic J. Leader of Pileggi.
According to reports, most of the companies sold by Shanghai Electric are transmission and transformation electronics companies, and their businesses focus on large and medium-sized power transformers, wind power converters, high- and low-voltage fuses, general contracting of transmission and distribution projects and complete sets of equipment. In the case of Shanghai Electric, it will be based on this to collect and collect high-quality clean energy equipment manufacturing assets within the entire group. This series of transfer is due to June 10, 2011, Shanghai Electric and Shanghai Electric Power Company signed a joint venture contract, the two sides jointly funded the establishment of a joint venture company with a registered capital of 2 billion yuan, each of the two sides accounted for 50% of the equity. In the business direction, the joint venture company will aim to meet the needs of the smart grid's next-generation power system and energy conservation and environmental protection. It will focus on the development of UHV equipment, new energy access, energy storage equipment and its control systems, electric vehicle battery power and charge and exchange. Emerging industries such as electric systems. Therefore, the main business of the new company is essentially an integration within the system. The traditional power transmission equipment products and many smart grid and new energy application equipments to be implemented will substantially involve in the construction of smart grids, and after being applied practically, it will help Shanghai Electric's new products quickly gain market expansion.
Globally, the low-voltage electrical appliance industry is an industry with full international competition and high degree of marketization, forming a competitive pattern in which co-existence of multinational companies and domestic domestic competitive companies. Recalling that in the past, the market structure of low-voltage electrical appliances in China presented a typical pyramidal shape, and the market demand for low-end products with relatively low technical thresholds was huge, attracting many market participants, but the market competition was fierce and the overall industry concentration was not high. After foreign competitors stepped into the Chinese market, they used the method of cooperation with domestic production companies to seek for complementary strengths, continuously penetrated the domestic and foreign markets through multiple production lines and multiple channels, and also aggravated market competition. Looking forward to 2012, under the highly competitive pattern, leading enterprises with technological and scale advantages will be in a favorable position, and it is hoped that the industry concentration will be enhanced through mergers and reorganizations.
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