Systemair merger strengthens UK operations
The ventilation company Systemair is streamlining its operations in the United Kingdom by merging Systemair Ltd with its fellow subsidiary Fans & Spares Ltd. The companies' turnovers last year amounted to approximately MSEK 200.
Fans & Spares was acquired in 2000 and currently has 12 sales offices and warehouses. This merger will make Systemair's organisation more efficient and ensures better market coverage.
"This is a strategic decision, giving us greater control and stronger potential growth, while also simplifying the situation for customers. In addition to a more efficient organisation, it also gives us scope for increasing the proportion of Systemair products on the UK market," says Gerald Engström, CEO of Systemair.
As part of the organisational restructure, the company will be changing its name to Systemair Fans & Spares Ltd.
For additional information, please contact:
Gerald Engström, CEO, +46 (0)222-440 01, +46 (0)70-519 00 01
Glen Nilsson, CFO, +46 (0)706544003
Svein Nilsen, Marketing Director, +4793062700
Systemair AB, SE-739 30 Skinnskatteberg, Sweden Tel. +46 (0)222-440 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 generated a turnover in excess of SEK 3.3 billion during the 2008/09 financial year and has just over 2,000 employees. Since Systemair was founded in 1974, the company has increased its turnover every year while also demonstrating good profitability. For the past 3 years, average growth has been in the region of 13 per cent.
Systemair has a well established presence on growth markets. The Group's products are marketed under the brand names Systemair, Frico, VEAB, and Fantech. Systemair has been listed on the Nasdaq OMX Nordic Exchange in Stockholm, Midcap list, since October 2007.