Indutrade acquires another company in Finland
2007-10-23
Indutrade today acquired all of the shares in Recair Oy in Finland with annual sales of approximately SEK 50 million.
Recair is a leading manufacturer of air treatment equipment in Finland and is well established in the Finnish market. The company's customers consist primarily of HVAC (heating, ventilation and air conditioning) contractors, factories, public buildings and office buildings.
Organisationally Recair will be included in the Engineering & Equipment business area, which had annual sales of SEK 1,576 million in 2006.
To date Indutrade has made twelve acquisitions this year. The acquisition of Recair is expected to have a marginally positive impact on Indutrade’s earnings per share. The companies acquired to date during the year have combined annual sales of approximately SEK 615 million.
Stockholm, 23 October 2007
INDUTRADE AB (publ)