G & L Beijer divests the manufacturing operation in AIA

G & L Beijer AB divests its business in the Swedish subsidiary, Asarum Industriaktiebolag (AIA), to the Italian LU-VE Group. At the same time, G & L Beijer enters into a global collaboration agreement with LU-VE to distribute their products.

The divestment of AIA is a step forward in G & L Beijer’s strategy to consolidate its operation into distribution of products within refrigeration and air condition. AIA’s main operation is the production of heat exchangers. The company reports sales of SEK 100M and has 75 employees. Approximately 50 per cent of AIA’s sales are made through G & L Beijer’s distribution network and the remaining 50 per cent through AIA’s own sales organisation.

The Italian LU-VE Group is one of Europe’s largest manufacturers of heat exchangers. The group reports sales of approximately SEK 2 billion and has around 1,250 employees. LU-VE’s products are being sold in 90 countries around the world. LU-VE is at the forefront of the development of new environment friendly technical solutions.

G & L Beijer currently distributes LU-VE’s products in certain markets. As a result of the transaction this collaboration is further strengthened. The collaboration agreement means that G & L Beijer will distribute LU-VE’s commercial refrigeration products on an exclusive and global basis on selected markets.

The transaction will be carried out at 30 December 2011. As a result of the divestment, G & L Beijer’s sales will reduce by around SEK 50M. Profit per share will be marginally positively affected during 2012.

 
Malmö, 30 December 2011
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 AB (publ) discloses the information provided here pursuant to the Securities Market Act and/or the Financial Instruments Trading Act.

 
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.

In the previous year, operations were consolidated into comprising only products within refrigeration and air conditioning.

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