Gunnebo acquires Telesteps AB

Gunnebo has today acquired through its wholly owned subsidiary Gunnebo Industrier AB, all the shares in Tranås-based Telesteps AB.

Telesteps, which has an annual turnover of some MEUR 8 and 22 employees, manufactures and markets telescopic ladders. The telescopic function is based on an English patented invention that was acquired in 1997 together with the selling rights in Europe, Africa, the Middle East and Asia Pacific. The products are manufactured from tubes and step-treads made of aluminium together with components made from selected plastic materials. The ladder can be extended, fixed in any optional position, and when it has been collapsed into itself it can be easily and conveniently handled and transported. The company currently markets a range of products for the professional market, while a newly developed range for the consumer market has just been launched. “Telesteps complements Gunnebo Industrier’s existing business by adding on a new product area with strong development potential. We have the financial strength and industrial competence required to continue our rapid growth on global markets. There are also some synergies between Telesteps’ products and Gunnebo Fastening’s extensive range of products for the building trade in Northern Europe,” says Bjarne Holmqvist, Gunnebo’s President and CEO. “We are very pleased that Gunnebo has acquired Telesteps, and we recognise the considerable opportunities that exist to further develop the business in association with Gunnebo Industrier – in both the professional and consumer segments,” says Christer Johansson, Telesteps’ president and marketing manager, who, together with Per-Olof Eriksson, head of production and product development at Telesteps, will remain with the company. GUNNEBO AB (publ) Information For further information, please contact: Bjarne Holmqvist, President and CEO of Gunnebo AB: +46 31 83 68 00, 046 708 40 03 70 (mobile); +46 705 83 64 45 (mobile), or Christer Lenner, President of Gunnebo Industrier: +46 490 890 00, +46 705 91 03 05 (mobile), or Janerik Dimming, SVP Group Communications, Gunnebo AB: +46 31 83 68 03 or +46 705 83 68 03 (mobile); email: janerik.dimming@gunnebo.se.