GARO invests in its Polish factory to increase production capacity

GARO has decided to invest MSEK 18.5 in its Polish factory to increase the production capacity. The extension of the plant is expected to be finalised by September 2017 and will lead to more than a doubling of the production area. The factory in Poland and the Swedish production plant, located in Gnosjö, supplies the GARO Group with electrical distribution products and EV-chargers.

Stefan Jonsson, CEO of GARO comments: “We started production in Poland in 1997 and are very pleased with how operations have developed. We are now taking a further step and will invest to increase production capacity, increase the flexibility and improve profitability”.

For more information, please contact:
Stefan Jonsson, CEO
Telephone: +46 370 33 28 02
Email: stefan.jonsson@garo.se

Lars Kvarnsund, CFO
Telephone: +46 370 33 28 03
Email: lars.kvarnsund@garo.se

Patrik Linzenbold, Head of IR
Telephone: +46 708 252630
Email: patrik.linzenbold@garo.se

  
This information is such information that GARO aktiebolag is obligated to publish in accordance with the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was published by the abovementioned contact persons on 7 September, 2016, at 7:45 a.m.

  
GARO develops, manufactures and supplies innovative products and systems for the electrical installations industry under its own brand. The company has operations in Sweden, Norway, Finland, Ireland and Poland and the group is organised in two business segments GARO Sweden and GARO Other markets. GARO has a broad product assortment and is a market leader within several product areas. The group has sales of approximately MSEK 600 and has approximately 260 employees. Its head office is located in Gnosjö.

With simplicity and design, the GARO provides the smartest and most profitable solutions – fitted into systems.