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Legrand SA Confirms FY 2013 Sales and Operating Margin Guidance; Announces Joint Venture and Majority Stake in Adlec Power

Thursday, 1 Aug 2013 01:52am EDT 

Legrand SA announced that it confirms its fiscal year 2013 targets for organic growth in sales of between -2% and +2%, and for adjusted operating margin before acquisitions of between 19% and 20% of sales. In addition, the Company announced the signature of a joint venture agreement with Adlec Power, an Indian producer of distribution boards. Legrand SA holds 70% of equity with an option to take full control from July 2018. Financial terms were not disclosed. 

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