Husqvarna Group acquires Diamond Tool Supply
Husqvarna Group’s Construction division has acquired Diamond Tool Supply Inc. out of Michigan, USA, a leading producer of polishing and grinding diamond tools for concrete, stone and terrazzo.
“The acquisition of Diamond Tool Supply reinforces our position as a market leader of complete solutions for the construction grinding and polishing industry,” says Henric Andersson, President Husqvarna Group’s Construction Division.
The acquisition will add sales of around USD 5.8m (approximately SEK 47m), mainly in the US, to Husqvarna Group’s Construction division, based on the full-year 2015 accounts. Diamond Tool Supply (DTS) has around 70 employees.
“With the acquisition of DTS comes a strong customer base that we will continue to support and expand as well as manufacturing operations in Bulgaria, both being valuable assets to our diamond tool business,” continues Henric.
The acquired operation will be included in Husqvarna Group’s accounts as of May 3, 2016.
For more information, please contact
Henric Andersson, President Husqvarna Construction Division, + 46 8 738 9133
Tobias Norrby, Investor Relations Manager, at +46 8 738 9335 or firstname.lastname@example.org
The above information has been made public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was published at 08.30 on May 3, 2016.
Husqvarna Group is a world leading producer of outdoor power products for garden, park and forest care. Products include chainsaws, trimmers, robotic lawn mowers and ride-on lawn mowers. The Group is also the European leader in garden watering products and a world leader in cutting equipment and diamond tools for the construction and stone industries. The Group’s products and solutions are sold under brands including Husqvarna, Gardena, McCulloch, Poulan Pro, Weed Eater, Flymo, Zenoah and Diamant Boart via dealers and retailers to consumers and professionals in more than 100 countries. Net sales in 2015 amounted to SEK 36 billion and the Group has more than 13,000 employees in 40 countries.