French Schneider keen on possible mergers and business opportunities – News – Investment

The Hanoitimes – ​French-backed Schneider Electric is seeking to expand production capacity in Vietnam. Schneider Electric Vietnam country president Xavier Denoly told VIR at last week’s Xperience Efficiency 2014 exhibition that the firm would continue strongly expanding production in Vietnam.

“We are seeking capable local partners for mergers and acquisitions (M&A) to further realise our global mission to maintain our position as an international specialist in energy management,” he said, adding that the firm had conducted many M&As in the energy industry over the past 20 years, raising the number of its employees from 40,000 to 150,000.

“M&As are always an option in markets such as Vietnam. We’re committed to continuing to introduce leading global technology into the country,” he said.
The exhibition, jointly organised in Hanoi by the firm and the Ministry of Industry and Trade, showcased many of Schneider Electric’s energy efficient products and solutions which offer 30 per cent cuts in power use and carbon dioxide emissions.
In May this year, the firm put into operation a major factory producing smart knife-switches and sockets in the southern province of Dong Nai, joining another factory that began operations back in 1996. The products are sold locally and exported to Australia, Indonesia, New Zealand and South Africa.
Schneider Electric Vietnam also began a distribution centre at the northern province of Bac Ninh’s VSIP Bac Ninh Industrial Park in June.
“Last year, Schneider Electric’s total revenue reached about $30 billion, of which 43 per cent came from emerging markets, including Vietnam,” Denoly said.
Schneider Electric also supported information technology developers like IBM or Microsoft deploy their cloud computing solutions in Vietnam.
“We’re also seeking more partners here to provide IT solutions and products like uninterruptible power supply, racks and precision cooling equipment,” said Schneider Electric Vietnam’s field marketing manager Nguyen Thi Phuong Hong.
In order to realise its plan to expand production in Vietnam, Schneider Electric Vietnam would continue focusing on training local workers with training courses in country and overseas, Denoly said.

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