Indutrade acquires Milltech Precision Engineering Ltd
Indutrade today acquired all of the shares in Milltech Precision Engineering Ltd, UK, with annual sales of GBP 3.8 million.
Milltech is a specialist machining and sub-assembly/assembly sub-contractor to a wide range of manufacturing industries supplying one offs and prototype work, volume production of individual precision components through to full product assemblies. Major customer segments are hydraulics, oil and gas, marine, food and fire protection.
Possession will be transferred today, and the company will be part of Indutrade’s Special Products business area. The acquisition is expected to have a marginal positive impact on Indutrade’s earnings per share.
Stockholm, 18 March 2015
INDUTRADE AB (publ)
For further information, please contact:
Johnny Alvarsson, President and CEO, tel +46 70 589 17 95.
Indutrade markets and sells components, systems and services with a high-tech content within selected niches. Indutrade’s business is distinguished by Hhgh-tech products for recurring needs, growth through a structured and tried-and tested acquisition strategy and a decentralised organisation characterised by an entrepreneurial spirit.
The Group is organised into six business areas: Engineering & Equipment, Flow Technology, Fluids & Mechanical Solutions, Industrial Components, Measurement and Sensor Technology and Special Products. Indutrade’s sales totalled SEK 9,746 million in 2014, generating operating income of SEK 1,134 million before depreciation of intangible assets. Indutrade is listed on the Nasdaq OMX Stockholm.