2 new acquisitions in China and Germany for Rexel

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Beijing Zhongheng in China 
Creation of a joint-venture with Beijing Zhongheng, a Chinese privately-owned company based in Beijing. Rexel will own a controlling stake of 65% in the joint-venture to which Beijing Zhongheng will transfer its activities and assets. The joint-venture, which was approved by the Chinese authorities, will strengthen Rexel’s presence in Northern China. Beijing Zhongheng operates through 1 head-office (Beijing) and 8 branches, employs 74 people and recorded sales of c. €34 million in 2010. With a technical and value-added customer approach, strong focus on automation and the industrial end-market, Beijing Zhongheng will offer strong complementarity to Rexel’s existing operations in China and potential synergies with Suzhou Xidian, another Rexel company in China. 

Tegro in Germany 
Acquisition of Tegro, a family-owned company based in Freudenberg that posted sales of c. €10 million in 2010. The company operates through 1 branch and employs 26 people. This acquisition will strengthen Rexel’s local market presence in North Rhine-Westphalia, a region with strong potential, and increase Rexel’s exposure to the industrial end-market, as 80% of the newly acquired company’s sales come from industrial companies.
http://www.tegro-gmbh.de