Systemair acquires company in Czech Republic
Systemair has signed an agreement to acquire VKV, a Czech market leader in the segment for air distribution products. The company had a turnover of SEK 30 millions in 2009 and a EBIT margin of 15 %. VKV will be consolidated with immediate effect.
"This is a good additional acquisition says Svein Nilsen, Marketing Director of Systemair. "We will get control over our product distribution in the Czech Republic by this acquisition. VKV has sold air distribution products, that came into Systemair thru an earlier acquisition, in the Czech Republic. We expect cost reductions and increased sales through synergies with our existing business in the Czech Republic."
For further information contact:
Gerald Engström, CEO, + 46 222 44 001, + 46 70 519 00 01
Svein Nilsen, Marketing Director, +47 930 627 00
Systemair AB, 739 30 Skinnskatteberg, 0222-440 00, www.systemair.com
Systemair in brief
Systemair is a leading ventilation company with operations in 38 countries in Europe, North America, the Middle East, Asia, Africa and Australia. The Company had sales of SEK 3.2 billion in financial 2009/10 and currently employs about 2,200 people.
Systemair has reported an operating profit every year since 1974, when the Company was founded. During the past 15 years, the Company's growth rate has averaged about 15 percent.
Systemair has well-established operations in growth markets. The Group's products are marketed under the Systemair, Frico,VEAB and Fantech brands. Systemair shares have been quoted on the Mid Cap List of the OMX Nordic Exchange in Stockholm since October 2007. The Group comprises about 60 companies