Systemair has signed an agreement to acquire VKV, a Czech market leader in the
segment for air distribution products. The company had a turnover of SEK 30
millions in 2009 and a EBIT margin of 15 %. VKV will be consolidated with
immediate effect.
"This is a good additional acquisition says Svein Nilsen, Marketing Director of
Systemair. "We will get control over our product distribution in the Czech
Republic by this acquisition. VKV has sold air distribution products, that came
into Systemair thru an earlier acquisition, in the Czech Republic. We expect
cost reductions and increased sales through synergies with our existing business
in the Czech Republic."
For further information contact:
Gerald Engström, CEO, + 46 222 44 001, + 46 70 519 00 01
Svein Nilsen, Marketing Director, +47 930 627 00
Systemair AB, 739 30 Skinnskatteberg, 0222-440 00,www.systemair.com
Systemair in brief
Systemair is a leading ventilation company with operations in 38 countries in
Europe, North America, the Middle East, Asia, Africa and Australia. The Company
had sales of SEK 3.2 billion in financial 2009/10 and currently employs about
2,200 people.
Systemair has reported an operating profit every year since 1974, when the
Company was founded. During the past 15 years, the Company's growth rate has
averaged about 15 percent.
Systemair has well-established operations in growth markets. The Group's
products are marketed under the Systemair, Frico,VEAB and Fantech brands.
Systemair shares have been quoted on the Mid Cap List of the OMX Nordic Exchange
in Stockholm since October 2007. The Group comprises about 60 companies
[HUG#1425440]
Press Release (PDF): http://hugin.info/138279/R/1425440/373630.pdf
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Source: Systemair AB via Thomson Reuters ONE
