STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Addtech (STO:ADDTB) has today signed an agreement to acquire 90 per cent of the shares outstanding in Hans Følsgaard A/S.
Hans Følsgaard is a technology trading company that delivers components and systems to OEM customers and larger end users within the manufacturing industry and also products within infrastructure and power transmission to e.g. electric power producers and wind power manufacturers. Hans Følsgaard has operations with own companies in Denmark, Norway and Sweden. During the financial year 2013 the Hans Følsgaard Group had net sales of around DKK 300 million, an operating profit of around DKK 20 million and 65 employees.
Hans Følsgaard’s product portfolio within the areas OEM components, automation and fibre technology strengthens the business area Component’s operations within corresponding areas on the geographical markets respectively. For the business area Energy the product portfolio of Hans Følsgaard within electrical power, electrical technology and cables complements the operations within the business units Energy Supply and Energy Products. Half of Hans Følsgaard’s sales and earnings will be reported in the business area Components and half will be reported in the business area Energy.
The closing is estimated to take place in the beginning of July 2014. The Følsgaard Fund which is one of the existing owners will until further notice own 10 per cent of the shares in the company. The acquisition is estimated to have a positive effect on Addtech's earnings per share during the current financial year.
Stockholm, June 17, 2014
Addtech AB (publ)
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