Opcon’s subsidiary, Opcon Energy Systems, acquires REF Technology Scandinavia

Opcon AB today signed a declaration of intent to acquire 100% of REF Technology Scandinavia AB. The acquisition is part of Opcon’s strategy to expand via its own technology for generating electricity from surplus heat. The acquired company will become part of Opcon’s newly formed business area, Opcon Energy Systems (OES).

REF Technology Systems is an advanced supplier of complex products, systems and consulting services for the process industry and other industries.

“The acquisition of REF Tech gives us the installation and calculation competence that is necessary to support the customer projects that Opcon Energy Systems will perform. We also gain access to an organisation of highly qualified service technicians who will support the after-market business that will result from the installations we will be making,” says Rolf Hasselström, CEO of Opcon.

“This acquisition will enable us to manage our next customer assignments without any loss of tempo which the alternative of building our own project organisation would have meant. Competence within REF Tech is very high and their engineering skills represent a considerable competence boost for the Opcon Group. REF Tech has a strong international product and contracting business working with energy-efficient solutions. They will now have the opportunity to develop even further together with Opcon.”

REF Technology Scandinavia will have sales turnover of around SEK 41 million in 2006 and report positive earnings. The company has 17 employees.