Addtech acquires Gevea
Addtech Equipment, a business area in the Addtech Group, has entered an agreement regarding the acquisition of all shares in Gevea Holding AB. The sellers are Erik and Hans Andersén.
Gevea develops and markets equipment for high-voltage electricity transmission. The company is the market leader in Sweden in its chosen product segment and has a strong position in the markets outside of Sweden in which it is active. Its annual turnover is SEK 65 million and exports account for 50 per cent of this figure. Sales are made mainly under the company's own trademarks.
The acquisition is an important supplement to the Addtech Group's operations in the field of specialised and critical components for electricity distribution, an area in which the Group sees good opportunities for growth. The intention is to run Gevea as an independent unit in the Addtech Group.
The acquisition is expected to have a marginally positive effect on Addtech's earnings per share during the current financial year. Closing is expected to take place 1 December 2006.
Stockholm, 22 November 2006
Addtech AB (publ)
For further information please contact
Roger Bergqvist, CEO, Addtech AB, +46 8 470 49 04
Åke Darfeldt, CEO, Addtech Equipment AB, +46 708 870 515
Roger Bergqvist, CEO, Addtech AB, +46 8 470 49 04
Åke Darfeldt, CEO, Addtech Equipment AB, +46 708 870 515
Addtech is a technology trading group that develops and sells hi-tech components and systems to industrial companies and the service industry in selected niche areas. The Group has an annual turnover of around SEK 3.5 billion and around 1,200 employees. Its customers are mainly manufacturing companies in the engineering, vehicle, telecoms and electronics industries and laboratories in the fields of healthcare and research in the Nordic region. Addtech provides its customers with technical and economic value added.