Addtech acquires Nordautomation Oy
Addtech Industrial Process, a business area in the Addtech Group, has today signed an agreement to acquire 80 % of the shares outstanding in Nordautomation Oy.
Nordautomation is the Nordic market leader in designing, manufacturing and delivering of log handling equipment.
Nordautomation will complement Addtech's current operations in the business area Industrial Process . Nordautomation has 85 employees and sales of around EUR 15 million.
The closing is estimated to take place today. The current owner Pauli Ojala will remain as the Managing Director and a minority owner with 20% percent of the shares in the company. The acquisition is expected to have a marginally positive effect on Addtech’s earnings per share during the current financial year.
Stockholm, September 11, 2018
Addtech AB (publ)
For further information, contact
Niklas Stenberg, President of Addtech AB, +46 702 67 94 99
Anders Claeson, Business Area Manager, Addtech Industrial Process, +46 8 470 49 02