Legrand actively pursues expansion in new economies by acquiring Seico(1) in Saudi Arabia
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http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130206:nBw057132a * Legrand takes control of Seico, Saudi leader in industrial metal cable trays * Legrand thus strengthens its presence in Saudi Arabia, a high-growth market where it is already leader in wiring devices LIMOGES, France--(Business Wire)-- Regulatory News: Legrand (Paris:LR) is actively pursuing its strategy of development through self-financed acquisitions of small to medium-size businesses with leading positions in their markets, and today announced the purchase of Seico. Seico is the leader of the Saudi market for industrial metal cable trays, a segment where it is also a top player in other countries in the Gulf Cooperation Council(2). The move expands Legrand`s presence in Saudi Arabia, a fast-growing market where the group already ranks first in wiring devices. Seico`s strong ties to key players in the oil and gas vertical market in the Gulf also strengthen Legrand`s positions in this high-growth market segment. Seico has three production plants in Saudi Arabia which manufacture all of its output, and its 2012 sales totaled around €23 million. Key financial dates * 2012 full-year results: February 14, 2013 * 2013 first-quarter results: May 7,2013 * General meeting of shareholders: May 24,2013 ABOUT LEGRAND Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for use in commercial, industrial and residential markets makes it a benchmark for customers worldwide. Innovation for a steady flow of new products with high added value and acquisitions are prime vectors for growth. Legrand reported sales of over €4.2 billion in 2011. The company is listed on NYSE Euronext and is a component stock of indexes including the CAC40, FTSE4Good, MSCI World, ASPI and DJSI (ISIN code FR0010307819). www.legrand.com (1) Seico: Saudi Electric Industries Company (2) Saudi Arabia, Bahrain, United Arab Emirates, Kuwait, Oman and Qatar Investor Relations: Legrand François Poisson Tel : +33 (0)1 49 72 53 53 Fax : +33 (0)1 43 60 54 92 email@example.com or Press Relations: Publicis Consultants Robert Amady Tel : +33 (0)1 44 82 46 31 Mob : +33 (0)6 72 63 08 91 firstname.lastname@example.org Copyright Business Wire 2013
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