Indutrade makes strategic acquisition in Switzerland
The information provided herein is such that Indutrade AB (publ) is obligated to disclose pursuant to the Securities and Clearing Operations Act and/or the Financial Instruments Trading Act. Submitted for publication at 10 a.m. on 25 November 2010. Press release Indutrade makes strategic acquisition in Switzerland Indutrade today signed an agreement intending to acquire all of the shares in Aschera Holding AG, the parent company of Swiss industrial group Abima, with annual sales of approximately SEK 400 million. The Abima Group, with head offices in Rheinfelden, was established in 1961 and consists of seven niche sales companies focused on technical problem-solving. The companies have specialist expertise in four primary areas: • control and regulation of flows • industrial insulation against heat, cold and sound • cleaning and passivation technologies for high quality stainless steel surfaces • fire safety Customers are primarily in the following industrial segments: pharmaceuticals, energy, chemicals, petrochemicals, food, paper and pulp, and water/sewage. Valves and actuators are key product groups. "We feel strongly about continuity and growth," comments Christian Salz, principal owner of Abima. "Indutrade's long-term approach, decentralised organisation and focus on profitable growth guarantee preservation of our company culture and company philosophy." The Abima Group has slightly more than 170 employees in Switzerland, Austria and Germany. All key persons in the Group will continue with their involvement in the Abima Group after the acquisition. Johnny Alvarsson, CEO of Indutrade, comments: "Markets outside the Nordic region already account for approximately 40% of Indutrade's net sales. Through the acquisition of the Abima Group, we have created a strong platform for further expansion in central Europe." Indutrade is expected to take possession 1 January 2011. The acquired group will be included in Indutrade's Special Products business area, which had sales of SEK 1,877 million in 2009. The acquisition is estimated to have a marginally positive impact on Indutrade's earnings per share. Stockholm, 25 November 2010 INDUTRADE AB (publ) For further information, please contact: Johnny Alvarsson, President and CEO, tel. +46 70 589 17 95. About Indutrade 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 four business areas: Engineering & Equipment, Flow Technology, Industrial Components and Special Products. Indutrade's sales totalled SEK 6,271 million in 2009, generating operating income of SEK 594 million before depreciation of intangible assets. Indutrade is listed on the Nasdaq OMX Stockholm.