KISTA, Sweden--(BUSINESS WIRE)--Regulatory News:
Indutrade (STO:INDTB) today acquired all of the shares in Bailey Morris Ltd in the UK, with annual sales of GBP 7 million. This is the fifth acquisition made by Indutrade in the UK this year, amounting to a total of GBP 34 million in terms of annual sales.
Bailey Morris is one of the leading propshaft manufacturer and component distributor in the UK to customers in 40 countries. Major customer segments are the commercial vehicles, specialist automotive, off highway and industrial applications.
Possession will be transferred today, and the company will be part of Indutrade’s Special Products business area. The acquisition is expected to have a marginally positive impact on Indutrade’s earnings per share.
Stockholm, 15 August 2014
INDUTRADE AB (publ)
About Indutrade
Indutrade markets and sells components, systems and services with a high-tech content within selected niches. Indutrade's business is distinguished by
- high-tech products for recurring needs
- growth through a structured and tried-and tested acquisition strategy
- a decentralised organisation characterised by an entrepreneurial spirit.
The Group is organised into five business areas: Engineering & Equipment, Flow Technology, Fluids & Mechanical Solutions, Industrial Components and Special Products. Indutrade's sales totalled SEK 8,831 million in 2013, generating operating income of SEK 990 million before depreciation of intangible assets. Indutrade is listed on the Nasdaq OMX Stockholm.
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