Addtech acquires Kouvo Oy
Addtech Life Science, a business area in the Addtech Group, has today signed an agreement to acquire all shares outstanding in Kouvo Oy. Sellers are Pentti Rantala and Seppo Lappalainen.
The company sells equipment for measuring levels, flows and weights to the Finnish energy, chemistry, paper and pulp industries and to Finnish manufacturers of installations for such industries. The company represents world-leading suppliers in its product areas and commands a very strong position in its customer and product segments. Kouvo generates added value to customers in the form of application know-how and training. The company has revenue of 2.4 million euro and has seven employees.
Kouvo complements the Addtech Group's business in process technology. The business is believed to have excellent development potential.
The acquisition is estimated to have a marginally positive effect on Addtech's earnings per share during the current financial year. The closing is expected to take place on 14 January 2008.
Stockholm, 3 January 2008
Addtech AB (publ)
Stockholm, 3 January 2008
Addtech AB (publ)
For further information, contact:
Johan Sjö, President, Addtech AB, +46 8 470 49 03
Johan Sjö, President, Addtech AB, +46 8 470 49 03
Göran Hagsten, Executive Vice President, Addtech Life Science AB, +46 8 594 11 352