Systemair acquires minority in Estonia and Slovakia
Systemair AB (NASDAQ OMX Stockholm: SYSR) has concluded the acquisitions of the outstanding minorities in Systemair AS Estonia (25%) and IMOS-Systemair in Slovakia (20%) of the respective corporate managers. After the acquisitions, these companies will be 100% owned subsidiaries of Systemair AB.
After these acquisitions all Systemair subsidiaries are 100% owned by Systemair AB with the exception of Systemair Software in India.
For further information 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, 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 13:00 (CET) on 20 January 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