ZUTEC ACQUIRES A FURTHER 34% STAKE IN ZUTEC AUSTRALIA
Zutec Holding AB (publ) (“Zutec") today announced that it has reached an agreement to acquire a 34% stake in Zutec (Australia) Pty Ltd (“Zutec Australia”) and thereby increases its ownership stake to 90%. Gustave Geisendorf, Zutec’s CEO says “Zutec has a meaningful market presence in Australia. This acquisition will allow us to fully integrate Zutec Australia into the wider group structure which together with our intention to increase our investments in the Australian market will allow the business to reach its full potential. The Australian construction market is already well advanced