Indutrades acquisition of Stein Automation approved
As announced in a press release on 13 January, Indutrade has today completed the acquisition of all the shares in the German company Stein Automation GmbH & Co. KG (www.stein-automation.de/wp/en/), after approval by the German Competition Authority, Bundeskartellamt.
Stein Automation, with annual sales of approximately EUR 10 million, is a supplier of Pallet transfer systems for assembly-lines. The systems are Industry 4.0-ready and built up by standardized modules, providing flexible configuration and re-modelling features, to optimize the customers’ production processes. The customers are companies primarily based in Germany, often with international production facilities, within the automotive, consumer goods and medical industries. Application areas are found in various assembly-line pallet transfer systems for e.g. white goods, electronics and automotive products. Stein Automation, established in 1969, has 45 employees and is based in Villingen-Schwenningen, Germany.
Closing takes place today and Stein Automation will be included in Indutrade's Business Area DACH.
The acquisition is expected to have a marginally positive impact on Indutrade's earnings per share.
Stockholm, 31 January 2020
INDUTRADE AB (publ)
For further information, please contact:
Bo Annvik, President and CEO
Phone +46 8 703 03 00
Indutrade markets and sells components, systems and services with a high-tech content within selected niches. Indutrade’s business is distinguished by
- High-tech products for recurring needs
- Growth through a structured and tried-and tested acquisition strategy
- A decentralised organisation characterised by an entrepreneurial spirit
The Group is organised into eight Business Areas: Benelux, DACH, Finland, Flow Technology, Fluids & Mechanical Solutions, Industrial Components, Measurement & Sensor Technology and UK. Indutrade’s sales totalled SEK 16,848 million in 2018, generating an operating profit of SEK 2,087 million before amortisation of intangible assets. Indutrade is listed on Nasdaq Stockholm. Please read more at www.indutrade.com