GARO to divest a small industrial property in Gnosjö for MSEK 12, generating a minor capital gain

At the start of the year, the GARO Electrification business area relocated its operations in Sweden to purpose-designed premises in Hillerstorp. The project included the divestment of a small property in Gnosjö. The property has now been divested at a value of MSEK 12 to ZAL-produkter AB, which is a part of SWEMIX Group.

“With the relocation in Sweden and the new facility in Poland, all of the steps of our resolved investments in capacity expansion are now complete, and we are ready for the upcoming expansion to support electrification and energy efficiency in both of our business areas,” says Patrik Andersson, CEO of GARO Group.

For more information, please contact:
Patrik Andersson, CEO: +46 (0)76 148 44 44
Helena Claesson, CFO: +46 (0)70 676 07 50

GARO AB (publ) Corp. Reg. No. 556071–7772 is a company that develops, manufactures and markets innovative products and systems for the electrical installations market under its own brand. GARO’s customer offering is to provide complete solutions in the product areas of Electrical distribution products, E-mobility, Project business & Temporary Power with a focus on electrical safety, user-friendliness and sustainability. GARO was founded in 1939, has its head office in Gnosjö and is today an international company with operations in six countries with around 500 employees. The company’s production units in Sweden are located in Gnosjö and Hillerstorp in Sweden and in Szczecin in Poland. GARO is listed on Nasdaq Stockholm under the ticker name GARO. For more information, see www.garo.se