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Somfy / Somfy strengthens China presence

Vendredi 17 Déc 2010 à 18:30



PR Newswire/Les Echos/

Press Release

Somfy strengthens China presence

The Somfy group recently established a holding structure based in Hong Kong in
order to strengthen its presence and accelerate its growth in China.

It recently acquired 70% of the capital of Ningbo Dooya, and is considering
increasing its stake in LianDa from 80% to 95%. It further intends to boost the
commercial resources of its subsidiary Somfy China by increasing the sales
force and promoting the brand.

With annual sales of close to EUR35 million, Ningbo Dooya is the leading
Chinese manufacturer of motors for roller blinds and shutters. With a
workforce of 1,500 employees, it operates a 25,000 m2 production facility
in the city of Ningbo, Zhejiang province, and has a distribution network
covering a large part of China. The recently sealed alliance will enable
Ningbo Dooya and Somfy to intensify their growth in the Chinese market, which
continues to show significant potential, while allowing Ningbo Dooya to pursue
its export business independently.

By way of reminder, LianDa arose from the association of the Somfy and Yueqiu
groups. Today, with annual sales of nearly EUR10 million, it is one of the
leading Chinese manufacturers of entry-level tubular motors for roller
shutters. Its products go mainly to Asian and European markets.

All these operations together represent a total investment of some EUR111
million, almost half of which is being financed from the group's available
cash resources.

17 December 2010

Advisors

The Somfy group was advised by Sodica Asia, Clifford Chance Shanghai and
Mazars.

Profile

The Somfy group is organised into two distinct branches, one, Somfy Activités,
dedicated to the Group's core business, which is the automatic control of
openings and closures in homes and buildings, and the other, Somfy
Participations, dedicated to investments and equity holdings in industrial
enterprises outside the Group's core business.

Contacts

Somfy: Eric Blanchard (Finance director) - Tel. +33 (0)4 50 40 48 49
Somfy: Jean-Michel Jaud (Communications director) - Tel. +33 (0)4 50 96 70 65
Shan: François-Xavier Dupont - Tel. +33 (0)1 44 50 58 74

Calendar

Publication of annual sales figures: 20 January 2011

www.somfyfinance.com

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Mots-clés : Hong kong   Somfy   China   Growth   Ningbo   Dooya   Sales   Leading   Chinese   Dedicated   Accuracy   Releases  
Sociétés citées dans cette news : Somfy   MADE  

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