Correction: OEM International acquires Sitek-Palvelu Oy

This acquisition is not expected to affect the price on the shares, which incorrectly appeared in the earlier press release.

OEM International has today signed an agreement to acquire all shares in Sitek-Palvelu Oy. The company, with head office in Jyväskylä in Finland, develops and market products especially for industrial automation and process applications. The company has a yearly turnover of approximately 5 MEUR.

-      For more than two decades now, Sitek has built a unique strong market position and we are looking forward to be a part of the future development. Some parts of the product range are the same as OEM are selling on other geographical markets which will give synergy effects. The acquisition will also strengthen our position on the Finnish market, says Jörgen Zahlin, Managing Director and CEO for OEM International.

The acquisition is expected to have a marginal impact on OEM’s profit for the current year.

The information was made public on 29th December 2016 at 12:00 CET.

Tranås, 29th December 2016

OEM International AB (publ)

For further information, please contact:

Jörgen Zahlin, managing director and CEO for OEM International, phone number

+46(75)–242 40 22.

OEM International, with its head office in Tranås, Sweden, comprises 35 operational units in 14 countries. The group trades in industrial components and systems for industrial automation. In simple terms, OEM acts as an alternative for manufacturers to selling through their own companies.
Visit our website – www.oem.se