Ratos subsidiary GS-Hydro acquire Seth Service AS in Norway
Piping system company GS-Hydro has grown strongly in Europe, North America and Asia in recent years. In 2005 sales amounted to EUR 69 million and EBITA to EUR 4 million.The acquisition of Seth Service, with annual sales of NOK 11.5 million, will increase GS-Hydro's Norwegian presence. With Seth Service GS-Hydro takes one step further towards becoming a complete supplier of piping and hoses systems. The total purchase price for the company amounts to NOK 10.0 million. GS-Hydro Norway's Managing Director Bjørn Morten Olesen comments: "The acquisition is according to our strategic growth