se in the fields of mass transit, regional and long-distance transportation, driverless systems, traction systems, bogies, and onboard power supplies to offer know-how for sustainable rail vehicles. Mobility and Logistics This division primarily provides products, solutions (including IT solutions) and services for rail transportation operating systems, such as central control systems, interlockings, and automated controls. This division also provides offerings for road traffic, including traffic detection, information, and guidance systems. In the year ended September 30, 2013, this division acquired the rail automation business of Invensys plc., U.K., which provides signal services and rail control and communication solutions. Low and Medium Voltage This division supplies electrical grid operators, large industrial electricity consumers, and construction markets with medium and low-voltage electrical power equipment. This division also provides products, systems, and services for distributing electrical power from high-voltage transmission grid access to medium or low-voltage grids and for directing electrical power to end consumers and their access points. Medium voltage equipment includes distribution switchgear, control gear, circuit breakers and components for distributing and switching of electrical power coming from the high voltage transmission grid to the medium voltage distribution grid and within the medium voltage grid itself. The low voltage portfolio consists of power distribution boards, busbar trunking systems, distribution boards, and terminal blocks, as well as products for protecting, switching, measuring and monitoring devices and socket outlets. Smart Grid This division provides energy automation solutions, smart grid applications, transmission and distribution services, and rail infrastructure electrification solutions for mainline and mass transit applications. In addition, this division offers meter data management solutions and services relating to the planning of electric network grids, and the operation and maintenance of transmission and distribution products, systems, and solutions. Building Technologies This division offers products, services, and solutions for commercial, industrial, public, and residential buildings. Primary applications include building operation and automation, comfort, safety, and security. In addition, this division offers energy solutions and energy management services. This division’s offerings include heating and ventilation controls, security systems and devices for intruder detection, video surveillance and building access control, total room automation systems, and fire safety solutions for fire detection, protection alarms and non-water-based fire extinguishing. Distribution This sector distributes its products and services through its own dedicated sales force, supported by the company’s worldwide network of regional companies. In addition, the divisions of this sector use, to varying degrees, third-party distributors, panel builders, original equipment manufacturers, value added partners, installers, and general contractors. Customers and Markets This sector’s principal customers are industrial, infrastructure, and public customers in a range of markets, including construction and real estate, transportation and logistics and utilities. This sector is active worldwide, including in emerging markets, such as those in Asia and Australia region. Competition The major competitors of the Rail Systems division and the Mobility and Logistics division are Alstom, Ansaldo STS, Bombardier, and General Electric. The primary competitors of the Low and Medium Voltage division are ABB, Eaton, and Schneider Electric. The principal competitors of the Smart Grid division are ABB, Alstom, General Electric, and Schneider Electric. The major competitors of the Building Technologies division are Honeywell, Johnson Controls, Schneider Electric, and Tyco. EQUITY INVESTMENTS The major investments within this segment are: A 50% stake in BSH Bosch und Siemens Hausgeräte GmbH (BSH), Germany: BSH is a manufacturer of household appliances
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