SOMFY grows in China

SOMFY speeds up their growth on the home automation market in China by concluding a partnership with YueQiu, a leader in the sector.

A new company, LianDa, is being created. SOMFY will hold 80 % stake and 20 % for YueQiu who will bring production assets and their distribution network in China. Total investment amounts will be 10 million euros, with actual sales of around 5 million euros.

LianDa will pursue YueQiu’s activities with their international customers and has the objective to become the most efficient Chinese based company in its sector.

Reminder
Somfy is the world leader in motors and controls for openings and closures in homes and buildings. Its main markets are France, South Europe, Germany, Northern Europe and America, which respectively accounted for 30%, 18%, 15%, 15% and 10% of fiscal year sales.

Contacts
Somfy: Nicolas Duchemin – Tel : 04 50 40 48 49
Shan: François-Xavier Dupont – Tel : 01 44 50 58 74

http://www.somfyfinance.com