Addtech acquires Moving Hjulex AB
Addtech Transmission, a business area in the Addtech Group, has on 6 July 2007 signed a contract for the acquisition of all shares in Moving Hjulex AB. The seller is Atle Industri AB.
The acquired company provides wheels, castors and gravity conveyors to OEM-customers and distributors mainly in the Nordic market. The company employs 16 people and the turnover is expected to reach MSEK 45 during 2007.
Through the acquisition of Moving Hjulex AB, Addtech will reach about MSEK 600 worth of sales of machinery components such as conveyor chains, gaskets, bearings and wheels to industrial customers. The acquisition complements Addtech Transmission's existing business operations well.
The acquisition of Moving Hjulex AB 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 on 6 July 2007.
Stockholm, 6 July 2007
Addtech AB
For further 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
Håkan Franzén, Managing Director, Addtech Transmission AB, +46 (708) 600 254