Systemair buys German sales companies
Systemair (NASDAQ OMX Stockholm: SYSR) acquires Frivent Luft und Wärmetechnik GmbH in Chemnitz and Garching in Germany.
The companies Frivent Luft und Wärmetechnik GmbH in Chemnitz, Saxony, Eastern Germany and Garching, Bavaria, are sales companies of the Austrian company Josef Friedl GmbH.
The combined turnover of both companies was 3.3 MEUR in 2010 with seven employees in total. The Frivent office in Chemnitz has been an agent for Systemair in parts of eastern Germany
-"With the acquisition of Frivent we are now able to service the entire German market with our own sales organisation. We will at the same time acquire additional expertise in the field of air handling units and access to expanded product lines", says Kurt Maurer, managing director of Systemair GmbH
For further information, please contact:
Gerald Engström, CEO, +46 222 440 01, +46 70 519 00 01
Kurt Maurer, managing director of Systemair GmbH, +49 7930 9272 33
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 14.15 am on 25 November 2011.
Systemair in brief
Systemair is a leading ventilation company with operations in 41 countries in Europe, North- and South America, the Middle East, Asia, Africa and Australia. The Company had sales of SEK 3.47 billion in financial 2010/11 and currently employs about 2,800 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.