Ratos: Lindab acquires Astron
Astron is Europe's leading manufacturer of pre-fabricated steel buildings for commercial applications. The company offers a complete system including components for the erection of industrial and other commercial buildings. The production of buildings for storage and similar applications is increasingly performed by pre-fabrication, and the share of steel commercial buildings is increasing. The company's sales in Central and Eastern Europe has been growing strongly in recent years and now amounts to approximately 50% of turnover. The company has 650 employees.
Lindab is a leading manufacturer of building materials made from sheet metal in the two business areas Ventilation and Profile. Today's transaction strengthens the business area Profile within the strategically important segment Building Systems and Lindab further enhances its position in the important growth markets in Central and Eastern Europe. In 2002 Lindab Building Systems acquired the European operations of the American company Butler, based in Hungary. This unit has been growing profitably since.
- Astron is a well-managed and profitable company, and the acquisition creates substantial synergies in production, marketing and distribution. Additionally, the market coverages of the both companies are very complementary, comments Kjell Åkesson, CEO of Lindab.
Total turnover is approximately SEK 1 bn and the operating profit (EBITA) during a 12 month's period amounts to SEK 85m.
The acquisition of Astron is subject to the approval of relevant competition authorities.
Ratos's ownership share in Lindab is 48%, and the consolidated book value in the Ratos group was SEK 1,150m at 31 March 2005. Ratos will not invest any capital in connection with today's transaction.
For additional information:
Stig Karlsson, Senior Investment Manager Ratos, tel +46 8 700 17 00 or +46 70-641 13 45
Kjell Åkesson, CEO Lindab +46 431 850 07
Financial calendar from Ratos:
Interim report January-June 2005 24 August 2005
Interim report January-September 2005 11 November 2005
The press release can be downloaded from the following link: