Acquisition of Reac AB strengthens SEM Drive AB

Acquisition of Reac AB strengthens SEM Drive AB SEM Drive AB, a subsidiary of the listed Opcon AB Group, is acquiring Reac AB. The acquisition will mean that SEM Drive AB will have a more complete product range of electro-magnetic devices. "The acquisition is part of SEM Drive AB's strategy to create the right conditions for international expansion and help us win market shares in sectors that are new for us," says Sven G. Oskarsson, Opcon's CEO. SEM Drive AB's product range currently consists of positioning devices developed and manufactured at the company's factory in Åmål, central Sweden. During the year the range has been extended by the newly developed Linoid, an innovative manoeuvring device that has attracted great interest. Linoid is a new type of electro-magnetic step motor that provides simpler and cheaper solutions for applications in the auto industry and other industries. SEM Drive AB's products are used for petrol cap locks, cash dispensers, parking locks and positioners in automatic gearboxes. SEM Drive AB also makes regulator valves for the Saab turbo engine. The profitability of the company, which has over 70 employees, has progressed very positively in recent years. Reac AB, based in Eskilstuna, Sweden, develops and manufactures devices for greater electrical power and larger movement. The devices are used for position control in various vehicle applications and for automated equipment in engineering and medical applications. Reac AB has signed an important partnership agreement with a leading Swedish business which can lead to significant volumes in the future. "The acquisition opens up a new and strongly expanding market for SEM Drive AB. In Sweden alone this market is worth around SEK 300 million and our aim is to win a large share of this market and to grow globally," says Svein Valheim, Managing Director of SEM Drive AB. "Reac AB has established good sales channels in Europe which we can use to market SEM Drive's products," adds Svein Valheim ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/10/12/20040930BIT20160/wkr0001.pdf