Indutrade establishes new Business Areas and strengthens Group Management
- New Business Areas are established, Indutrade will be organised in eight Business Areas
- As a result of the new Business Areas, the existing Group Management will be extended and strengthened
Effective 1 January 2018, the Indutrade Group will be organised in eight Business Areas, instead of six at present. As a result of the new Business Areas, the existing Group Management will be extended and strengthened. The purpose of the changes is to strengthen Indutrade's platform for continued profitable growth, to maintain a high acquisition pace and to better utilize the international skills within the company.
Indutrade has had strong growth and has developed from a group of technical trading companies in the Nordic region, to today’s international technical- and industrial group, with more than 200 companies in 30 countries. "Our history dates back to 1978 and since then, the Group has kept some fundamental principles that still applies - decentralization, entrepreneurship and profitable growth", says Bo Annvik, President and CEO. "For almost 40 years, these principles have characterized the development of our Group, and they will continue to characterize the development also in the future."
After the change, Indutrade's eight Business Areas will be:
- Flow Technology
- Fluids & Mechanical Solutions
- Industrial Components
- Measurement & Sensor Technology
- Finland (formerly Engineering & Equipment)
Effective 1 January 2018, the Indutrade Group Management will be extended and consist of the following members with the following areas of responsibilities:
President and CEO – Bo Annvik
CFO – Patrik Johnson, assumes his position by the latest 1 July 2018
Head of Acquisition and Business Development – Jonas Halvord, Senior Vice President, assumes his position 8 January 2018
Flow Technology – Morgan O’Brien, Senior Vice President, new member of Group Management
Fluids & Mechanical Solutions – Göte Mattsson, Senior Vice President
Industrial Components – Joakim Skantze, Senior Vice President
Measurement & Sensor Technology – Patrik Stolpe, Senior Vice President
Benelux – Robert Timmer, Senior Vice President, new member of Group Management
DACH – Markus Rueedin, Senior Vice President, new member of Group Management
Finland – Juha Kujala, Senior Vice President
UK – Peter Rowlands, Senior Vice President, new member of Group Management
Head of Group Finance – Susann Nyberg, Head of Group Finance
Advisor to the CEO – Peter Eriksson, Senior Vice President
As a part of a structured succession process, Peter Eriksson, currently Head of Business Area Flow Technology, will assume the position as Advisor to the CEO.
The changes will be reflected in the Group's external reporting starting with the interim report for the period 1 January– 31 March 2018. Comparative figures for the 2017 financial year according to the new structure will be presented as an appendix to the year-end report for 2017, which will be published on 13 February 2018.
Stockholm, 18 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 9.05 p.m. (CET) on 18 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 organized in 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. Indutrade is listed on Nasdaq Stockholm.