Addtech sells Batteriunion i Järfälla AB

Addtech Power Solutions, a business area within the Addtech Group, has today signed an agreement to sell 100 % of all shares outstanding in Batteriunion i Järfälla AB to Midac S.P.A.

Batteriunion i Järfälla AB is engaged in marketing and selling of traction batteries primarily to the forklift market in Sweden. Batteriunion i Järfälla AB has had a very close relationship with the Italian battery manufacturer Midac S.P.A since 2008.

Batteriunion i Järfälla AB, with 16 employees and a turnover of approximately 140 MSEK, has belonged to the business unit Storage & Power together with several other battery companies.

”The reason why we have now decided to sell Batteriunion is that we have considered that the company has better market opportunities if being owned directly by a battery manufacturer. We are convinced that the company´s employees, customers and business partners will have a great future development under Midac´s ownership”, says Niklas Stenberg, business area manager at Addtech Power Solutions.

The closing is estimated to take effect today and to have a marginally positive effect on Addtech´s earnings per share during the current financial year, due to a capital gain.

Stockholm den 12 juni 2017

Addtech AB (publ)

For further information, contact
Johan Sjö, CEO and President, Addtech AB, +46 8 470 49 00
Niklas Stenberg, Business area manager, Addtech Power Solutions, +46 702 679 499