Lindab AB has signed an agreement regarding the acquisition of all shares in Astron Buildings SA. The sellers is the American company Parker Hannifin.

 

Astron is one of Europe's leading manufacturers of pre-engineered steel buildings for industrial and commercial purposes. The company has a turnover of about EUR 115M. The company's operating profit during a 12 months' period amounts to over EUR 9M. Purchase price is EUR 74.5M (debt free). Astron employs 650 persons. Sales in Central and Eastern Europe have grown strongly in recent years and are now responsible for some 50% of the total.

 

Astron supplies a building system covering the structural frame of buildings, wall and roof systems as well as accessories such as doors and smoke vents. Its product spread extends throughout the commercial and industrial sectors as well as multi-storey buildings for office use. The volume of steel-structured industrial and commercial buildings is showing an upward trend.

 

Lindab, with its head office in Sweden, is composed of two Business Areas - Ventilation and Profile. The acquisition is in line with Lindab's strategic focus on increasing growth in the Building Systems segment within business area Profile. Lindab Building Systems has a turnover of about EUR 55M. A few years ago Lindab acquired the American company Butler's European unit, which has developed well. Building Systems is one of Lindab's key products. The acquisition of Astron strengthens even further Lindab's position on the important growth markets in Central and Eastern Europe.

 

- Astron is a well managed company with good profitability and, when the acquisition is completed, important synergies will be expected regarding purchasing, production and marketing. Furthermore, the market coverage of the two companies complements each other in an excellent manner, comments Kjell Åkesson.

 

The purchase is conditional on the approval of certain regulatory authorities.

 

If you require further information, please get in touch with

 

Kjell Åkesson, CEO of Lindab AB, Tel. +46 (0)431 85007

 

or

 

Anders Persson, Information Officer at Lindab AB, Tel. +46 (0)431 85129 or
+46 (0)70 51 85 129, e-mail anders.person@lindab.com