Indutrade expands in Asia and strengthens its position in the energy market segment
2009-11-02
Indutrade’s subsidiary HP Valves BV in the Netherlands, which was acquired by Indutrade in 2005 and from that date increased their annual sales from SEK 100 million to SEK 370 million in 2009, has signed a letter of intent to acquire all of the shares in Key Valve Technologies Ltd (KVT), Seoul, Korea with annual sales of approximately SEK 150 million.
KVT is specialised in developing, engineering and manufacturing high quality valves for proper fluid flow control in high energy/severe duty applications. The company is an important supplier to major players in the power generating and other severe duty industries world-wide. Organisationally KVT will be part of the Special Products business area, which had net sales of SEK 1,812 million in 2008. The acquisition is expected to have a marginally positive impact on Indutrade’s earnings per share. Stockholm, INDUTRADE AB (publ)