Systemair completes the acquisition of Climaproduct

Systemair has completed the acquisition of the Italian ventilation company Climaproduct in accordance with the earlier intentional agreement from August 2007. Climaproduct has an annual turnover of EUR 10,7 million (100 MSEK) with an operating profit of EUR 1,1 million (10 MSEK).

Climaproduct have been in business for 20 years and they have a total of 40 employees. The head office is situated in Milan with a smaller production unit in Padova. The company which since 1992 has been a distributor for Systemair is also supplying ventilation products from other producers than Systemair.

- Today our products only constitute a minor part of Climaproduct´s sales. The acquisition is a part of our European venture and gives us a platform in Italy. We see great opportunities for increased sales of the complete Systemair product range, says Gerald Engström, CEO for Systemair.

Systemair will take over the Company as of January 1 this year and the Company name will be changed to Systemair Climaproduct.

For further information, contact
Gerald Engström, CEO, +46 222 440 01 or +46 70 519 00 01
Glen Nilsson, CFO, +46 222 44003 or +46 706544003