Systemair acquires Menerga sales company in Belgium
Systemair AB (NASDAQ OMX Stockholm: SYSR) has signed an agreement to acquire Menerga NV that is a distributor for Menergas products in Belgium.
The company, which markets and provides service for Menerga products, achieved a turnover of EUR 4.2 million in 2014. The company is located in Aarschot north of Brussels. Menerga NV with 13 employees will continue to be managed as a separate company with current management and staff.
"Belgium is an interesting market for us and the acquisition of Menerga NV strengthens our position. Menerga NV is a well-known and well-established company in the ventilation market in Belgium.", says Olle Glassel, Sales Director for Systemair.
For further information, please contact:
Gerald Engström, CEO, + 46 222 44 001, + 46 70 519 00 01
Anders Ulff, CFO, +46 70 577 40 09
Olle Glassel, VP Sales, +46 70 360 26 05
Systemair AB, SE-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 5.9 billion in financial year 2014/15 and currently employs about 4,600 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.