Gunnebo Industrier increases its shareholding in Australian subsidiary to 100%

Gunnebo Industrier is increasing its shareholding in Gunnebo Industries Pty Ltd., its Australian subsidiary, from 70% to 100%. The transaction strengthens the position of the Lifting business area in Australia and creates a stable foundation for the Group's ongoing growth in Australia and Oceania.

With 11 employees, Gunnebo Industries Pty Ltd in Sydney reports annual sales of SEK 30 million. The subsidiary is primarily engaged in selling and distributing the chain and lifting components of the Lifting business area.

Christer Lenner, CEO of Gunnebo Industrier AB, says, "Full ownership provides a stable basis for further expansion in Australia and Oceania. The region is exhibiting strong growth, offering solid potential for Lifting as well as our Technical Products business areas."

The Australian subsidiary, which has been a majority-owned subsidiary since 1990, draws most of its customers from the fishing, harbour, construction, offshore and mining industries.