Systemair acquires Rucon in Holland
Systemair has agreed to acquire the Dutch ventilation company Rucon.
Rucon is a well-established supplier of ventilation products on the Dutch market for the past 40 years. The company has 41 employees and a yearly turnover of EUR 12 millions during 2009. The current owner of Rucon, Mr Henk van der Zande will remain in his position as Managing Director of the company.
"We are very pleased with this acquisition in Holland", says Gerald Engström, CEO of Systemair. "Holland is a big ventilation market with several strong local suppliers. Rucon's market position supplements very well with our existing business in Holland and we expect to realise synergy advantages on short notice. Our turnover in Holland, including our existing business, will reach close to EUR 20 millions after the acquisition and hence be one of our biggest individual markets."
For further information please contact:
Gerald Engström, CEO, + 46 222 44 001, + 46 70 519 00 01
Glen Nilsson, CFO, + 46 222 44003, + 46 70 654 40 03
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