Lagercrantz Group acquires Swedwire AB
Lagercrantz Group AB has today acquired all shares in Swedwire AB. Swedwire develops, manufactures and markets a niche range of steel products such as guy wires and road barrier ropes, wires for reinforced submerged cables and ACSR conductors. Swedwire recorded sales of approximately SEK 80 million in 2009 and displayed good profitability. The company’s head office is in Varberg.
Jörgen Wigh, President and CEO of Lagercrantz Group, comments on the acquisition as follows: “The acquisition of Swedwire is a step in our ambition of raising the degree of operations with own products and thereby adding value to our offering. Swedwire is market leader in specific niches and has a growing portion of export”.
Jesper Bundgaard, CEO of Swedwire AB: “With Lagercrantz as owner, Swedwire gets a long-term owner which provides security and stability, and also giving us opportunities for growth and further expansion.”
Swedwire will be part of Lagercrantz’ division Mechatronics.
Swedwire 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.swedwire.se.
Lagercrantz has during 2010/11 so far acquired businesses with yearly revenue of approximately MSEK 130.
Stockholm, 22 June 2010
Lagercrantz Group AB (publ)
For additional information, please contact:
Jörgen Wigh, President & CEO, Lagercrantz Group, telephone +46 8 700 66 70, or the company website at: http://www.lagercrantz.com
This information is disclosed in accordance with the Securities Markets Act, the Financial Instruments Trading Act or according to the agreement with NASDAQ OMX Stockholm Exchange. The information was submitted for publication on 22 June 2010 at 12.15.
LAGERCRANTZ GROUP IN BRIEF
Lagercrantz Group is a technology group in electronics, electrics, communication and adjacent areas. The Group operates in a decentralised mode with value-creating sales in close proximity to its customers and markets and has a leading position in several expansive niches.
Operations are organised in three divisions. Division Electronics is primarily involved in marketing solutions in wireless industrial communication and embedded systems. Division Mechatronics offers electro-mechanical components and production of cable harnesses and electric connection and systems and installation material. Division Communications provides solutions in digital image transmission/technical security, design software and access products. Manufacturing companies are the primary customers. Lagercrantz is today represented in eight countries in Northern Europe, and in China.
The Group has sales of MSEK 1,800 and has approximately 600 employees. Lagercrantz is listed on NASDAQ OMX Stockholm Exchange, segment Small Cap. Additional information is available at www.lagercrantz.com.