Systemair acquires Aaldering Group
Systemair AB (NASDAQ OMX Stockholm: SYSR) has concluded the acquisition of the companies within Aaldering Group which manufacture and market air curtains in Germany and the Netherlands.
Aaldering Group comprises three companies; LGB which manufacture air curtains in Langenfeld, Germany, and sales companies Tekadoor in Langenfeld, Germany and LSA in Arnhem, Netherlands.
The Group has 38 employees and the sales amounted to 67 MSEK during 2010 with an operating profit of 13 MSEK. The Companies will be consolidated from January 1st 2011.
- By combining the acquired companies' product range with our existing range of air curtains, under the brand name Frico, we strengthen our position as market leader in Europe, says Systemairs CEO Gerald Engström.
For further information contact:
Gerald Engström, CEO Systemair AB, + 46 222 44 001, + 46 70 519 00 01
Jonas Valentin, CEO Frico AB, + 46 31 336 86 04, + 46 70 536 86 04
Systemair AB, 739 30 Skinnskatteberg, Sweden, +46 222 440 00, www.systemair.com
The information in this Press Release is information that Systemair is required to disclose in accordance with the Swedish Securities Markets Act (lagen om värdepappersmarknaden) and/or the Swedish Financial Instruments Trading Act (lagen om handel med finansiella instrument). Swedish and English versions of this information have been submitted for publication at 13:30 (CET) on 3 February 2011.
Systemair in brief
Systemair is a leading ventilation company with operations in 39 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 2,400 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