Nefab acquires packaging company in Austria
Nefab has signed an agreement to acquire all shares in the Oskar Eder Verpackungstechnik GmbH packaging company in Linz, Austria.
Oskar Eder Verpackungstechnik supplies packaging materials to industrial companies, mainly in Austria. Sales in 2007 are expected to amount to EUR 6 M and operating profit to EUR 0.5 M. The operation has eight employees.
Nefab will pay EUR 1.8 M at takeover of the company and a supplemental purchase price based on the company’s earnings until 2009 up to a maximum of EUR 0.8 M. The acquisition will result in a surplus value of approximately EUR 1.4 M, plus any supplemental purchase price. A preliminary valuation of intangible assets revealed a predominant proportion of depreciable values.
The acquisition is part of Nefab’s effort to extend its market presence in Europe and represents a broadening of the product range and product know-how in the Nefab Group. Oskar Eder Verpackungstechnik provides complete packaging solutions, which will strengthen Nefab’s offering to the Austrian market.
The acquisition will be carried out through a wholly owned Nefab subsidiary in Austria.
The company is located in Linz, Austria and Nefab intends to continue conducting operations in the existing leased premises.
The acquisition is not expected to affect Nefab’s earnings per share in 2007.
“The acquisition is part of our effort enhance our presence in Austria,” says Lars-Åke Rydh, President and CEO of Nefab. ”We expect that the acquired unit will become a base for future growth in the region,” continues Rydh.
For further information, contact: President Lars-Åke Rydh, +46-70-592 45 70,
, or CFO Anna Stålenbring, +46-70-814 23 44,
Jönköping, September 28, 2007
President and CEO