Addtech acquires Danish business in process technology
Addtech Life Science, a business area in the Addtech Group, has concluded an agreement to acquire Insatech A/S in Denmark. Seller is the company's management.
Insatech sells process equipment from leading suppliers to end users in Denmark in, among other, the engineering, pharmaceutical, food and energy industries. The company has a strong market position and adds value to the customer in the form of application knowledge, service and calibration services. Revenues amount to approximately MDKK 60 and Insatech has 37 employees.
The acquired business is a Danish equivalent to the business already today conducted in the Addtech Group by its Swedish subsidiary OmniProcess AB. Both companies market products in interesting market niches and are deemed to have good development potential. Total annual revenues within the area amounts to approximately MSEK 140. The acquisition is expected to have a marginal impact on Addtech's earnings per share.
Possession of the business will be taken 1 December 2005 and the acquisition will be paid in part in the form of 45,000 class B shares in Addtech AB. These shares have been previously repurchased and Addtech AB's holding of shares in treasury after this transaction amounts to 1,285,000 class B shares.
Stockholm, 1 December 2005
Addtech AB (publ)
The press release can be downloaded from the following link:
For further information, contact:
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Roger Bergqvist, President, Addtech AB, +46 8 470 4904
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Göran Brandt, President, Addtech Life Science AB, +46 8 594 113 55
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Addtech is a technology trading group that develops and sells components and products to industrial companies and the service industry. The Group has annual sales of approximately MSEK 3,000 and has approximately 1,200 employees. The majority of customers are manufacturers in the mechanical, vehicle, telecom and electronics industries, and laboratories within health care and research in the Nordic Region. Addtech provides its customers with technical as well as economic value added.
