Systemair acquires in Turkey
(Thomson Reuters ONE) -
Systemair has signed an agreement to acquire 70% of the shares in the Turkish
company HSK. HSK is Turkey's leading manufacturer of air handling units and in
2011 the company had a turnover of SEK 160 million. The company has two
production facilities on the outskirts of Istanbul, as well as sales offices in
Azerbaijan, Georgia, Turkmenistan, Dubai and Iraq.
"Turkey is an interesting market with great potential and Turkish construction
companies are also very active in surrounding markets. We see good synergy with
our newly acquired Italian chiller factory.", says Svein Nilsen, Marketing
Director for Systemair"
"We will initially acquire 70% and have a binding option to acquire the
remaining 30% within a period of four years. The takeover is expected to take
place during May this year.", says Gerald Engström, President and CEO for
Systemair.
For further information, please contact:
Gerald Engström, CEO, +46 222 440 01, + 46 70 519 00 01
Svein Nilsen, Vice President Marketing, +47 930 627 00
Glen Nilsson, CFO, + 46 222 44003, + 46 70 654 40 03
Systemair AB, 739 30 Skinnskatteberg, 0222-440 00, www.systemair.com
Systemair in brief
Systemair is a leading ventilation company with operations in 44 countries in
Europe, North & South America, the Middle East, Asia, Africa and Australia. The
Company had sales of SEK 3.47 billion in financial 2010/11 and currently employs
about 3,100 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 14 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.
Press release PDF:
http://hugin.info/138279/R/1607439/509904.pdf
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(i) the releases contained herein are protected by copyright and
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(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Systemair AB via Thomson Reuters ONE
[HUG#1607439]
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Datum: 02.05.2012 - 02:02 Uhr
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News-ID 1109479
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