Lindab International AB :Lindab's Building Systems division diversifies market coverage
Lindab's Building Systems division, which has been challenged by the market decline in Russia and Belarus for some time, is taking successful steps to win new ground in Africa. Two recent orders for Astron buildings show that these efforts are yielding results.
In Calabar, Nigeria, Lindab's Building Systems division, has been chosen to design, supply and supervise the erection of an 8,500 square metre new manufacturing and services facility for General Electric-Emerald Oil & Gas. The order is worth approx. SEK 30 m and will be delivered from the end of 2015 until the end of 2016.
The other order destined for Anyama, Ivory Coast, is worth approx. SEK 56 million and includes buildings / production units to serve as a new Heineken brewery. The shipments are scheduled to take place in 2016.
Anders Berg, Lindab's President and CEO commented:
"The market diversification is a long-term effort and we are pleased about the developments in Africa with its good opportunities across multiple sectors and industries. Short term, it does not off-set the sharp decline in our Russian and Belarusian markets, but we are continuing to work with both new and existing markets as well as the overall direction and structure of our business. It is still a difficult situation but there are signs of gradual improvements."
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Contacts:
LINDAB
Anders Berg, CEO
Email: anders.berg@lindab.com
Mobile: +46 (0) 70 35 89155
Linda Kjellgren, acting CFO
Email: linda.kjellgren@lindab.com
Mobile: +46 (0)70 51 77867
Lindab - A Ventilation and Building Products company:
Lindab develops, manufactures, markets and distributes products and system solutions primarily in steel for simplified construction and improved indoor climate.
The products are characterised by their high quality, ease of assembly, energy efficiency, consideration towards the environment, and are delivered with high levels of service. Altogether, this increases customer value.
The Group had sales revenue of SEK 7,003 m in 2014 and is established in 32 countries with approximately 4,600 employees. The main market is non-residential construction, which accounts for 80 percent of sales, while residential accounts for 20 percent of sales. During 2014, the Nordic market accounted for 46 percent, the CEE/CIS (Central and Eastern Europe plus other former Soviet states) for 21 percent, Western Europe for 30 percent and other markets for 3 percent of total sales.
The share is listed on the Nasdaq OMX Nordic Exchange, Stockholm, Mid Cap. For more information visit www.lindabgroup.com