Systemair receives breakthrough order in India
Systemair (NASDAQ OMX Stockholm: SYSR) has been selected by the DMRC (Delhi Metro Rail Corporation) as supplier of tunnel fans to the extension of the subway in Delhi. Total order value approx. EUR 1.1 million.
The Indian government has approved the extension of the subway in Delhi, meaning additional 103 km metro with 69 stations are planned to be completed during 2016. Consequently, residents will get a much larger subway system whilst giving a better traffic situation in Delhi.
Systemair will deliver fans for emergency and tunnel ventilation for a total amount of approx. EUR 1.1 million.
"This is an important order that strengthens our position as a supplier to large and technically complex projects in India.", says Gerald Engström, CEO of Systemair.
"The market has high expectations on the new Indian government as well. It is expected to fulfill their promises of major infrastructure investment in the coming years.", says Gerald Engström.
For further information, please contact:
Gerald Engström, CEO, + 46 222 44 001, + 46 70 519 00 01
Kurt Maurer, Product Area Director, + 49 170 226 49 33
Asokdas M D, Managing Director Systemair India +91 9611 131 223
Systemair AB, 739 30 Skinnskatteberg, Sweden, +46 222 440 00, www.systemair.com
Systemair in brief
Systemair is a leading ventilation company with operations in 45 countries in Europe, North- and South America, the Middle East, Asia and South Africa. The Company had sales of SEK 4.55 billion in financial 2012/13 and currently employs about 4,150 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 13 percent.
Systemair has well-established operations in growth markets. The Group's products are marketed under the Systemair, Frico, VEAB, Fantech, Menerga and Holland Heating 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.