Opcon sharpens focus on energy and environmental technology – sells Mobility Products business area
Opcon, the energy and environmental technology Group, has reached an agreement to divest its subsidiary, REAC AB, and REAC’s subsidiary, Balle AS, which together constitute the Mobility Products business area. The acquirer is Latour Industries AB. The companies were transferred as of 13 September 2010. The purchase amount is SEK 84,3 million.
The sale is in line with Opcon’s focus on its core activities within energy and environmental technology. The Mobility Products business area, whose customers are primarily active within the healthcare sector, does not therefore have a natural position within the Group.
“We are now further refining our business so that we can focus even more sharply on energy and environmental technology. This is where our technology is already a leader and where we expect to see very significant business opportunities in future,” says Rolf Hasselström, President and CEO of Opcon.
“By concentrating on customers in the healthcare sector and with the strategic acquisition of Balle in 2008 we have established a profitable and expanding business,” says Tom Gustavsson, head of Opcon’s Engine Efficiency and Mobility Products business area.
“With our continued development within energy and environmental technology, however, we are not a natural owner in the future who can exploit opportunities and develop this company in the best way. After making a comprehensive analysis of future opportunities we are convinced that Latour Industries is the right owner who can continue to develop the business in future,” says Tom Gustavsson, head of Opcon’s Engine Efficiency and Mobility Products business area.
Mobility Products was previously reported as part of Opcon’s Engine Efficiency business area. REAC AB and Balle AS had joint sales of SEK 79 million for 2009, with an operative margin in line with the long term target of Opcon Group.
For further information, please contact
Niklas Johansson, Vice President, Investor Relations, Opcon AB, tel. +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
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.
Opcon has activities in Sweden, China, Germany and the UK. There are around 390 employees. The company’s shares are listed on Nasdaq OMX Stockholm. The Group comprises two business areas:
Renewable Energy focuses on generating electricity from waste heat, bioenergy, systems for handling natural gas, industrial cooling, recycling of heat, drying of biomass, treatment of flue gases, handling systems for biomass, etc., air systems for fuel cells and measurement and monitoring of processes.
Engine Efficiency focuses on energy efficient solenoid technology and ignition systems for combustion engines including ethanol, natural gas and biogas engines.
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