Lagercrantz Group acquires Norwesco AB

Lagercrantz Group AB has today acquired all shares in Norwesco AB. Norwesco develops, manufactures and markets a niche range of electro-mechanical products for the electronics and construction industries. Norwesco recorded sales of approximately SEK 50 million in 2009 and displayed good profitability. The company’s head office is situated in Täby and production takes place in Öregrund. Norwesco was previously owned by Siemens and Schneider Electric.

Jörgen Wigh, President and CEO of Lagercrantz Group, comments on the acquisition as follows: “The acquisition of Norwesco is a step in our ambition of raising the degree of operations with own products and thereby adding value to our offering”. Stefan Andersson, CEO of Norwesco AB: “With Lagercrantz as owner, Norwesco secures a long-term owner which provides security and stability to our customers and suppliers, while at the same time giving us opportunities for future expansion.” Norwesco will be part of Lagercrantz’ division Mechatronics. The acquisition is expected to make a small positive contribution to the group's earnings per share during the financial year 2010/11 which extends until March 2011. More information may be found on www.lagercrantz.com or www.norwesco.se. Stockholm, 3 May 2010 Lagercrantz Group AB (publ)