Gunnebo Industrier acquires Christiania Spigerverk AS Group in Norway

Gunnebo Industrier is acquiring a 100% stake in the Christiania Spigerverk AS Group in Norway, including its Swedish subsidiaries CS Byggteknik AB (Helsingborg), 3A Byggdelen AB (Stockholm) and 3A Byggdelen AB (Göteborg).

The acquisition of Christiania Spigerverk, which has 80 employees at operations in Norway and Sweden, strengthens the position of the Fastening business area in the Nordic market. The acquisition is expected to increase revenue about 40% for the business area.

Christer Lenner, CEO of Gunnebo Industrier AB, says that "Christiania Spigerverk is a key strategic acquisition that will combine with existing activities at our Fastening business area to form a powerful player in the Nordic market. While our market position in the Nordic countries will be stronger, we face potential synergies as well. The acquisition also provides a firm foundation for additional expansion through organic and acquisitive growth in the Northern, Central and Eastern European markets."

Christiania Spigerverk manufactures and markets a complete assortment of fastening systems for the construction industry and do-it-yourself users. The Group reported sales of NOK 160 million, the majority of which in the Norwegian market, in 2006.

The acquisition is conditional on approval by Norwegian authorities.