Opcon acquires Hotab Biosystem AB
As part of the strategic review of its operations, energy and environmental technology Group Opcon’s subsidiary, Saxlund International Holding AB acquired 100% of the shares in Hotab Biosystem AB from the parent company, Hotab Bio Energy AB, on 27 January 2016. Hotab Bio Energy AB has thereafter applied to enter bankruptcy.
The purchase amount is around SEK 1 million before costs. In connection with the acquisition, Saxlund also acquired some other assets from the parent company. Opcon is not planning for Saxlund International Holding AB to retain a 100% holding but is intending to bring in other external investors into the company.
Hotab Biosystem AB focuses on the aftermarket and has 18 employees working in the business at Kristianstad in Sweden. Sales in 2014 amounted to around SEK 40 million and the company recorded a net profit of around SEK 1.5 million. Sales and earnings are expected to be somewhat lower for 2015. Hotab has been one of the more prominent players on the Swedish bioenergy market over a long period. However, Hotab Biosystem AB has been affected by the financial troubles of the parent company, which entered into reconstruction at the start of 2015.
- “Hotab is a well-known brand with an extensive base of installations mostly in Sweden and Norway. In some market segments the company has been a serious competitor to Saxlund but above all it has a product portfolio that complements our’s. We have previously said that the Swedish bioenergy market is in need of consolidation. We see this as a step in that direction. At the same time, the acquisition strengthens our position in the Swedish market and helps to grow the aftermarket business, which we see as a significant element of the strategy we are setting for bioenergy operations,” says Rolf Hasselström, President and CEO of Opcon AB.
Saxlund and SRE are leading bioenergy brands. Within the bioenergy sector, Opcon offers everything from the design of complete combined heat and power (CHP) plants to handling systems and incineration plants under the Saxlund brand. Under the SRE brand, systems are supplied for treatment and improved energy efficiency for bioenergy-powered district heating plants, sawmills, pellets producers and commercial greenhouses. The offer also includes flue gas condensation equipment for industrial activities.
for further information, please contact
Niklas Johansson, vice president, Investor Relations, Opcon AB, tel. 46 8-466 45 00, 46-70-592 54 53
Opcon AB, Box 15085, 104 65 Stockholm, Sweden
Tel. 46 8-466 45 00, fax 46 8-716 76 61
e-mail: info@Opcon.se
www.Opcon.se
The Opcon Group
Opcon is an energy and environmental technology Group that develops, produces and markets systems and products for eco-friendly, efficient and resource-effective use of energy with focus on bioenergy.
Opcon has activities in Sweden, Germany and the UK. There are around 100 employees. The company’s shares are listed on Nasdaq OMX Stockholm.
Opcon AB (publ) is obliged to disclose the information in this press release in accordance with the Swedish law governing the securities markets and/or trading in financial instruments. The information was submitted for publication at 08.30 (CET) on Thursday 28 January 2016.
Tags: