Addtech acquires Finnish company

Addtech Components, a business area in the Addtech Group, has today signed an agreement to acquire all shares outstanding in Elgood Oy.

Elgood is a technology trading company which sells components and customised solutions within electronics. The company is a well known supplier to Finnish manufacturers of equipment within the telecom and energy sector, as well as industrial automation. Elgood has nine employees and a revenue of approximately 4 MEUR.

Elgood constitutes an excellent compliment to Addtech Components' operations and taking the recent acquisition made of the Norwegian company Fox Electronics AS into account the business area has now established a position covering the entire Nordic market regarding components and customized solutions within electronics.

The closing will take place 1 November, 2010 and the acquisition is estimated to have a marginally positive effect on Addtech's earnings per share during the current financial year.
 

Stockholm 26 October, 2010

Addtech AB (publ)

For further information, contact
Johan Sjö, President, Addtech AB, +46 8 470 49 00
Anders Claeson, Business area manager, Addtech Components, +46 70 864 15 16