Lifco acquires Norwegian Fiberworks AS
Lifco has signed an agreement to acquire a majority of Fiberworks AS, a Norwegian based company which provides optical transceivers, fiber cabling, wavelength multiplexers, media convertors, and testing and measurement instrumentation for the European fiber market.
The operation was founded in 1990 and is located in Oslo, Norway. In 2016, Fiberworks reported net sales of approximately 93 MNOK. The company employs 14 people and will be consolidated in Business Area Systems Solutions, division Construction Material. The company will co-operate with Lifco’s other fiber optic company Pro Optix which is based in Sweden.
The acquisition will not have any significant effect on Lifco’s earnings or financial position in current financial year.
Please visit www.fiberworks.no for further information.
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Lifco acquires and develops market-leading niched operations with the potential to deliver sustainable profit growth and strong cash flows. The Group has three business areas: Dental, Demolition & Tools and Systems Solutions. Lifco has a clear corporate philosophy which implies a long-term perspective, focus on profits and a highly decentralized organization. Lifco has 133 companies in 26 countries. In 2016, the Group’s net sales amounted to SEK 9 billion and the EBITA margin was 15%. For more information, visit www.lifco.se.