Addtech Acquires Metric Industrial
Addtech AB signed an agreement on 29 March 2007 for the acquisition of all shares in Metric Industrial Oy, Metric Industrial A/S, Metric Industrial AB and Metric Industrial AS. The seller is Metric Industrial Holding BV, which in turn is owned by the Dutch investment firm PION Holding BV.
The four Metric Industrial companies sell components and systems in the field of industrial automation, as well as testing and measurement systems in Finland, Denmark, Sweden and Norway. Annual sales amount to EUR 16 million and the Group has over 30 employees. Finland is currently the biggest market, with good growth potential in all four markets.
In the field of industrial automation, the companies sell components such as sensors, vision systems, industrial computers, industrial ethernet and built-in power management for OEM enterprises and system integrators in basic industries in the Nordic region. In the field of testing and measurement the firms sell testing systems and electronic instruments for installation, verification and monitoring of fiber optic communication networks. In several cases the suppliers are world leaders in their often very narrow product areas.
The acquisition is an important addition to the Addtech Group's sales of niche and critical components intended for demanding customers in Nordic industry. The acquisition strengthens the Addtech Group's presence in Finland and Denmark in particular, while providing growth opportunities in the other Nordic markets. Metric Industrial will be managed as an independent unit in the Components business area.
The acquisition is expected to have a marginally positive impact on Addtech's earnings per share during the upcoming financial year, which begins on 1 April 2007. Closing took place on 29 March 2007.
Stockholm 29 March 2007
Addtech AB
Stockholm 29 March 2007
Addtech AB
For more information please contact
Roger Bergqvist, Managing director Addtech AB, +46 8 470 49 04
Roger Bergqvist, Managing director Addtech AB, +46 8 470 49 04
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 about SEK 3.6 billion and around 1,300 employees. Its customers are mainly manufacturing companies in the engineering, vehicle, telecoms and electronics industries and laboratories in the fields of health care and research in the Nordic region. Addtech provides its customers with technological and financial added value.
Addtech is listed on OMX Nordic Exchange.
Addtech is listed on OMX Nordic Exchange.