Systemair strengthens its position within radiant heating
Press Release, July 5, 2021
Systemair AB (NASDAQ OMX Stockholm: SYSR) has acquired the remaining 50.1% of the shares in Burda WTG in Germany. BURDA WTG develops, produces and supplies infrared radiant heaters and heating panels and associated control equipment with several own patents. The head office is located in Eschborn, near Frankfurt / Main, Germany. Sales in 2020 amounted to approximately EUR 4 million.
“Burda WTG is the market leader in infrared heaters for outdoor applications and a perfect complement to Frico's product range. Burda also shares the same passion for creating smart solutions for energy-efficient heating of outdoor environments as Frico AB ", says Roland Kasper, CEO, Systemair.
For further information contact:
Roland Kasper, CEO, + 46 73 094 40 13
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 54 countries in Europe, North America, South America, the Middle East, Asia, Australia and Africa. The Company had sales of SEK 8.5 billion in the 2020/21 financial year and employs approximately 6,400 people. Systemair has reported an operating profit every year since 1974, when the company was founded. Over the past 10 years, the Company's growth rate has averaged about 10 percent. Systemair helps to improve the indoor climate with the help of energy-efficient and sustainable products that reduce carbon dioxide emissions.
Systemair has well-established operations in growth markets. The Group's products are marketed under the Systemair, Frico, Fantech and Menerga brands. Systemair shares have been quoted on the Mid Cap List of the Nasdaq OMX Nordic Exchange in Stockholm since October 2007. The Group comprises about 90 companies.