Addtech acquires Hydro-Material Oy
Addtech Components, a business area in the Addtech Group, has today signed an agreement to acquire 100% of the shares outstanding in Hydro-Material Oy.
Finland-based Hydro-Material delivers hydraulic solutions and cooling systems to primarily the market segments special vehicles and the manufacturing industry. Hydro-Material Oy has sales of approximately EUR 5 million and 5 employees.
Hydro-Material will very well complement the operations within the Addtech Components Finland business unit.
The closing will take place during April and is estimated to have a marginally positive effect on Addtech’s earnings per share during the next financial year.
Stockholm, March 31 2021
Addtech AB (publ)
For further information, contact
Niklas Stenberg, CEO, Addtech AB, +46 702 67 94 99
Martin Fassl, Business Area Manager, Addtech Components, +46 70 669 69 34
Addtech is a technology trading group that provides technological and economic value added in the link between manufacturers and customers. Addtech operates in selected niches in the market for advanced technology products and solutions. Its customers primarily operate in the manufacturing industry and infrastructure. Addtech has about 3 000 employees in around 130 subsidiaries that operate under their own brands. The Group has annual sales of about SEK 11 billion. Addtech is listed on Nasdaq Stockholm.
This information was submitted for publication on March 31, 2021 at 12.30 p.m (CET).