Lagercrantz Group acquires Vendig AB
Lagercrantz Group has today acquired all shares in the Swedish company Vendig AB.
Vendig is a niche player, which develops, manufactures and sells belt scrapers and other components for conveyors within the bulk handling industry in Sweden and the rest of Europe. The customers are found within the rock-, gravel- and mining industry. Vendig recorded sales in 2010/11 of approximately MSEK 30 with good profitability. The seller of the company is JNL Utveckling AB.
“Vendig will be an interesting addition to the Lagercrantz group. The company has a strong market position in its niche and has good prospects for the future,” says Jörgen Wigh, President and CEO of Lagercrantz Group.
Sören Bergsten, Managing Director of Vendig: “With Lagercrantz as owner we gain a financially strong and long-term owner that gives us the opportunity to develop the company further by broadening our presence in Sweden and boosting the export of own products in Europe.”
Vendig will be part of Lagercrantz Group’s division Mechatronics. The acquisition is expected to make a small positive contribution to the Group’s earnings per share during the financial year which runs until the end of March 2012.
Stockholm, 24 November 2011
Lagercrantz Group AB (publ)
For further information, contact:
Jörgen Wigh, President & CEO, Lagercrantz Group AB, telephone +46 8 700 66 70.
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 24 November 2011 at 11:15 am.
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, electrical connection, electrical installation material and niche steel products. 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 more than MSEK 2,000 and has approximately 700 employees. Lagercrantz is listed on NASDAQ OMX Stockholm Exchange, segment Small Cap. Additional information is available at www.lagercrantz.com.
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