Indutrade consolidates and restructures operations in the Sander Meson Group
Indutrade has decided to implement a number of actions to restore profitability for the Sander Meson Group, which are active in the marine segment. The market conditions have been challenging for the companies within this group for a long time. The actions include consolidation of operations, staff reductions and other activities with focus to improve long-term profitability.
The actions will lead to restructuring costs impacting earnings for the fourth quarter of 2017 with approximately SEK 140 million, of which SEK 80 million is related to a write-off of intangible assets and SEK 60 million to other restructuring costs. The SEK 80 million write-off of intangible assets have no cash flow impact. The Sander Meson Group is included in the Flow Technology business area, and the costs will be reported at Group level.
Stockholm, 6 December 2017
INDUTRADE AB (publ)
For further information, please contact:
Bo Annvik, President and CEO
Tel: +46 8 703 03 00
This information is such that Indutrade AB is obligated to make public in accordance with the EU Market Abuse Act. The information was submitted for publication by the agency of the above contact person at 8 p.m. (CET) on 6 December 2017.
Indutrade markets and sells components, systems and services with a high-tech content within selected niches. Indutrade’s business is distinguished by
- High-tech products for recurring needs
- Growth through a structured and tried-and tested acquisition strategy
- 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 & Sensor Technology and Special Products. Indutrade’s sales totalled SEK 12,955 million in 2016, generating an operating profit of SEK 1,484 million before amortisation of intangible assets. Indutrade is listed on Nasdaq Stockholm.