Addtech acquires Valutec Group AB
Addtech Industrial Process, a business area in the Addtech Group, has today signed an agreement to acquire 86 % of the shares outstanding in Valutec Group AB (“Valutec”). Valutec is one of the world’s leading manufacturers of timber kilns to the forest industry. Valutec has its registered office in Skellefteå, Sweden, with subsidiaries and agents on key markets in Europe and North America. Valutec has sales of around SEK 350 million with an operating profit around SEK 70 million and has 45 employees. The consideration for 86 % of the shares in Valutec on a cash- and debt- free basis