Company in Mozambique becomes wholly-owned

G & L Beijer AB is exercising its option and acquires the remaining 60 per cent of the shares in the jointly owned company, Metraclark LDA, in Mozambique. G & L Beijer established an operation in Mozambique in November 2011 through its South African subsidiary, Metraclark, which together with the wholesaler, Logos Industrias, formed a joint-venture company. Initially, G & L Beijer acquired 40 per cent of the newly formed company to which an operation was provided with annual sales of approximately SEK 15M.

In connection with the transaction, G & L Beijer received an option to acquire the remaining 60 per cent of the company, which is now exercised. The operation in Mozambique has developed positively and reported sales of around SEK 20M for 2012 with good profitability. Now that the company becomes wholly-owned, additional resources can be provided to enable the further development of the operation in the country.

G & L Beijer’s operations in southern Africa, which includes South Africa, Botswana, Namibia and Mozambique, report strong growth. During 2012, sales increased by 13 per cent to more than SEK 620M, equivalent to nine per cent of consolidated sales.
   

Malmö, 6 February 2013
G & L Beijer AB (publ)

For further information, please contact:
Joen Magnusson, Managing Director
G & L Beijer AB
Telephone +46 40-35 89 00
Mobile +46 709-26 50 91
or
Jonas Lindqvist, CFO
Telephone +46 40-35 89 00
Mobile +46 705-90 89 04

G & L Beijer is a technology-oriented trading Group which, through a combination of added-value agency products and products of the company’s own development, offers competitive solutions for its customers within refrigeration and air conditioning.