Addtech acquires Poryan China Company Ltd
Addtech Power Solutions, a business area in the Addtech Group, has today signed an agreement to acquire 75 % of the shares outstanding in Poryan China Company Ltd.
Poryan China Company Ltd provide component solutions and subsystems in circuit protection primarily to the train and signaling market in China. Poryan has own establishments in Hongkong and Shanghai. Poryan has 22 employees and sales of around SEK 50 million.
Poryan will very effectively complement Addtech's current operations in the business unit Storage & Power. One of the existing companies in the business unit, Emcomp International AB, has very similar business activities in Europe and Asia. Both companies represents the same global leading supplier within circuit protection.
The closing is estimated to take effect in the beginning of April 2016. Derreck Lau, Managing Director of Poryan and one of the existing owners, will until further notice own the remaining 25% of the shares. The acquisition is estimated to have a marginally positive effect on Addtech’s earnings per share during the coming financial year.
Stockholm, March 18, 2016
Addtech AB (publ)
For further information, contact
Johan Sjö, MD, Addtech AB, +46 8 470 49 00
Niklas Stenberg, Business Area Manager, Addtech Power Solutions, +46 702 679 499