Change of course for VKG
Värmekyl Grossisten Scandinavia AB (VKG) has decided to change its strategy. From having previously focused on wholesale sales of heat pumps, VKG will now be reshaped into a total provider of energy services.
“After completing the reconstruction we have created financial stability in the company. Our new majority shareholder Gunnar Mannerheim is a long-term owner with a strong commitment to the company, and we are now ready for profitable growth,” says Mikael Jansson, newly appointed President and CEO.
According to the new strategy, VKG will wind up its wholesale operations entirely and instead develop its installation capabilities and portfolio of energy-efficient solutions properties of different types.
“Today it is enormously profitable to reduce energy consumption, and we see excellent potential to offer our aggregate expertise in this area. We can deliver a good indoor climate with a low operating cost and minimal environmental impact. By assuming long-term responsibility through functional guaranties, we also aim to build close and mutually profitable partnerships with property owners,” says Mikael Jansson.
The process of realigning VKG to the new strategy has already started and will continue through the end of 2008 and into 2009. Among other things, the various parts of the company will be consolidated to improve cooperation and achieve economies of scale.
“The wind-up of wholesale operations is proceeding according to plan and we anticipate an improvement in profit compared to 2007,” says Mikael Jansson. “At the same time that wholesale activities are discontinued, we are seeking acquisitions that complement the new strategy but that also reinforce the company’s geographic presence and contribute to growth in earnings. We have two interesting acquisitions underway that I will hopefully be able to present before the end of the year,” says Mikael Jansson.
For questions regarding the press release, please contact:
President and CEO, VKG
+46 (0)70 274 77 26
Värmekyl Grossisten Scandinavia AB (publ) is one of Sweden’s leading providers of environmental technology solutions with a focus on energy efficiency and improved indoor climate in commercial, multidwelling, industrial, residential and holiday properties. The VKG share is quoted on the First North marketplace of the OMX Nordic Exchange Stockholm. The company’s Certified Adviser is Mangold Fondkommission AB. For more information visit www.vkg.se