Systemair acquires Czech manufacturer of ventilation products
Systemair AB (NASDAQ OMX Stockholm: SYSR) acquires the Czech company group 2VV. The company is a leader in the development and manufacturing of industrial and residential air handling units and air curtains for commercial applications in the region.
The company has 189 employees and is located in Pardubice 120 km east of Prague. The company had sales of about 18 million euro in 2015. The previous owners will continue to work in the company.
"We see great opportunities with the company's unique knowledge and presence in, for Systemair, new market areas. This acquisition gives us a strong position in the region and opportunities for product and manufacturing synergies in Europe.", says Systemair's President and CEO Roland Kasper.
For further information contact:
Roland Kasper, CEO, + 46 73 094 40 13
Anders Ulff, CFO, + 46 70 577 40 09, +46 222 44 009
Systemair AB, SE-739 30 Skinnskatteberg, Sweden, +46 222 440 00, www.systemair.com
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 08:00 (CET) on August 25, 2016.
Systemair in brief
Systemair is a leading ventilation company with operations in 49 countries in Europe, North- and South America, the Middle East, Asia and Africa. The Company had sales of SEK 6.1 billion in financial year 2015/16 and currently employs about 4,900 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.