Beijer Electronics signs agreement with UTU for sale of the Finnish business

In accordance with the Letter of Intent that was communicated September 9, 2015, Beijer Electronics announces that today, November 24, 2015, the parties have signed an agreement for sale of the Finnish business. The deal will be closed at year-end.

The divestment of the Finnish business is a result of the strategy to focus on the IAS business area as a state of the art HMI supplier.

Going forward, UTU will be a supplier of Beijer Electronics’ HMI products, as well as a number of other brands, in Finland.

The divestment will have no or limited impact on Beijer Electronics’ financial result in 2015 and 2016.

“The divestment of the Finnish business is in line with the strategy to focus the business on sales of own products. We are looking forward to a close cooperation with UTU in the future”, says Per Samuelsson, President and CEO of Beijer Electronics AB.

For more information please contact:

President and CEO, Per Samuelsson, tel 46 (0)40 35 86 10, mobile 46 (0)708 58 54 40
Acting CFO, Joakim Nideborn, tel 46 (0)40 35 84 49, mobile 46 (0) 707 72 29 83

Beijer Electronics is a fast growing technology company with extensive experience of industrial automation and data communication. The company develops and markets competitive products and solutions that focus on the user. Since its start-up in 1981, Beijer Electronics has evolved into a multinational group present in 19 countries and sales of 1,402 MSEK 2014. The company is listed on the NASDAQ OMX Nordic Stockholm Small Cap list under the ticker BELE. www.beijerelectronics.se

Tags: