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Systemair acquires sales companies in Serbia and Montenegro

March 29, 2012, 10:00
Regulatory information

Systemair has signed an agreement to acquire the sales companies DT Thermo d.o.o. in Serbia and DT Thermo MNE d.o.o. in Montenegro, where they are among the leaders in the ventilation business. The acquisition of the company in Montenegro requires approval by the local authorities.

The combined turnover of the companies for 2011 was SEK 16 million with a total of 15 employees. Both companies have been distributors of Systemair products in the past.

 "The acquisitions will give us the benefit of "route to market" for all our products in Serbia and Montenegro, while strengthening our market position", says Svein Nilsen, Director Marketing Systemair.

 "One of our strengths is that we enter emerging markets at an early stage. Serbia and Montenegro is a market where we can see great potential for the ventilation industry with our wide product range", says Gerald Engström, CEO Systemair.

For further information, please contact:
Gerald Engström, CEO, +46 222 440 01, + 46 70 519 00 01
Svein Nilsen, Director Marketing, +47 930 627 00

Systemair AB, 739 30 Skinnskatteberg, 0222-440 00,

Note: The information here is that which Systemair AB has willingly chosen to make public or that which it is obliged to make public according to the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was published at 10:00 (CET) on 29 March 2012.

Systemair i korthet Systemair is a leading ventilation company with operations in 42 countries in Europe, North & 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 3,100 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 14 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.