Systemair acquires Menergas sales company in Norway
Systemair (NASDAQ OMX Stockholm: SYSR) acquires Menerga AS, the market leader in swimming pool ventilation and distributor for Menerga products in Norway.
The company which markets and provides service for Menerga products achieved a turnover of SEK 55 million in 2014. Menerga AS has an office which is located in Hvalstad outside Oslo including a national service organization. Menerga AS with 17 employees will continue to be managed as a separate company with current management and staff.
"Norway is one of our largest and most important markets and with the acquisition of Menerga AS will continue to strengthen our position as market leader in ventilation in Norway. Menerga AS is well-known and well-established in the Norwegian ventilation market and will contribute in improved profitability for the Group," says Gerald Engström, CEO 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
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 5.3 billion in financial year 2013/14 and currently employs about 4,500 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 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.