Rejlers acquires a majority stake of Lausamo Oy
Rejlers subsidiary Rejlers Oy in Finland has acquired a majority of shares (app. 55%) of Lausamo Oy with an option to acquire remaining 45 percent in the second quarter 2011.
Lausamo Oy, founded in 1984, provides services for building and property customers in the area of electrical, automation and telecommunication engineering. Lausamo is located in Vantaa and has excellent reputation and market positions in the Helsinki area and also in other parts of Finland. Lausamo Oy has also significant operations in Russia through the subsidiary LLC Lausamo Project located in Moscow. Lausamo Group has 45 employees and annual sales of approximately 3.5 million euros.
As a comment to the transaction, Peter Rejler CEO of the Rejler Group says "The acquisition will strengthen Rejlers ability to offer services for building and property customers in the Helsinki area and in other parts of Finland. Rejlers already operates in Vantaa within the energy and infrastructure sectors. The acquisition also opens the possibility to offer the Rejler Group services to the Russian market. For Lausamo the acquisition provides an excellent opportunity to expand its operations through Rejlers' office network and customers."
Through recruiting new staff and implementing strategic takeovers Rejlers goal is to employ at least 2015 employees and have a turnover of at least SEK 2015 million by 2015.
For further information:
Peter Rejler, President and CEO, +46 70 602 34 24
Seppo Sorri, CEO Rejlers Ltd,+358 44 574 5034
Timo Tenninen, CEO Lausamo Ltd, +358 400 403 902
Rejlers is a Nordic expertise group within electro-technology, energy, mechanics, automation, electronics, IT and telecommunications. Rejlers' shares are listed on the NASDAQ OMX Stock Exchange.
Rejlers discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 11.30 am on 30 November 2010.