STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Today Lagercrantz Group (STO:LAGRB) has acquired all shares in Precimeter Control AB.
Precimeter is a niche company that develops and sells solutions based on laser and induction technology. Precimeters solutions measure the levels and flows of metals and has a customer base primarily in aluminum foundries and their suppliers. The company has its headquarters in Hönö outside Gothenburg, subsidiaries in Germany and the USA, and a sales office in China. The Precimeter Group has a combined annual sales of approximately SEK 30M with good profitability.
"Precimeter is a highly profitable product company with a strong market position in its niche. The business has for several years displayed a stable performance and has been developing well and Precimeter thus become a valuable addition to the creation of the exciting new field of control engineering within the Communications division "says Jörgen Wigh, President and CEO of Lagercrantz Group.
Ivan Dejanovic, MD Precimeter: "With Lagercrantz as owner, we get a financially strong and long-term owner, which means that we can continue the development and expansion of the company with full force. We look forward to the opportunity to develop the company into new markets and with new products as a part of Lagercrantz Group ".
Precimeter will form part of the Lagercrantz Communications division as from October 2014. The acquisition is expected to generate a small positive addition to the Group's earnings per share on an annual basis.
Stockholm, 13 October 2014
Lagercrantz Group AB (publ)
This information is disclosed in accordance with the Securities Markets Act, the Financial Instruments Trading Act or according to the agreement with Nasdaq Stockholm Exchange. The information was submitted for publication on 13 October 2014 at 4:15 pm.
LAGERCRANTZ GROUP IN BRIEF
Lagercrantz Group is a technology group that offers world-leading, value-creating technology, using either proprietary products or products from leading suppliers. The group is comprised of more than 30 companies, each with a focus on a specific sub-market – a niche. A high value-creation is common to all the subsidiaries, including a high degree of customisation, support, service and other services. Lagercrantz Group is active in seven countries in Northern Europe, and in China. The Group has approximately 1,000 employees and annual revenue of approximately MSEK 2,500. The Company is listed on Nasdaq Stockholm since 2001.
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