Systemair acquires Polish sales company
Systemair (NASDAQ OMX Stockholm: SYSR) have reached agreement to acquire the Polish sales company PTH FOKO SP. Z o.o.
FOKO markets Frico air curtains and heating products in Poland. Turnover in 2010 amounted to 16 MSEK. The company will be merged and coordinated with the Polish subsidiary Systemair SA in connection with the acquisition.
- "FOKO has over 20 years as a Frico distributor, successfully built up the brand in Poland. Today Systemair in Poland has a well-developed and nationwide sales organisation. The acquisition creates the opportunity to increase our sales in Poland, which gives us a stronger market position", says Jonas Valentin, CEO of Frico AB.
For further information, please contact:
Gerald Engström, CEO, +46 222 440 01, +46 70 519 00 01
Jonas Valentin, CEO Frico AB ,+ 46 31 336 86 04, + 46 70 536 86 04
Glen Nilsson, CFO, +46 222 440 03, +46 70 654 40 03
Systemair AB, SE-739 30 Skinnskatteberg, Sweden, +46 222 440 00, www.systemair.com
Note: The information in this press release is information that Systemair AB is required to disclose in accordance with the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. Swedish and English versions of this information have been submitted for publication at 11.00(CET) on April 7, 2011.
Systemair in brief
Systemair is a leading ventilation company with operations in 40 countries in Europe, North America, South 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 2,500 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.