Systemair - strategic acquisition in India

(Thomson Reuters ONE) - Systemair has agreed to acquire the Indian ventilation companyRavistar with a yearly turnover of approximately 60 MSEK. Theacquisition includes the right to use the Ravistar trademark.Ravistar is a market leader in India within air distribution productsfor buildings, airports and process industries such aspharmaceuticals and hygien segments. The company employs about 200and their head quarter is located in Noida outside New Delhi, salesoffice in Bangalore and production facilities in Noida and Hyderabad.Systemair has already sales offices in New Delhi, Bangalore, Kolkataand Pune and a centralized warehouse and assembly plant in Alwar tosupport local market. Since 2007 Systemair has a company, SystemairSoftware, that develops simulating software for different ventilationneeds and product selection software for Systemair products.- This is a strategic acquisition for us, says Gerald Engström, GroupPresident of Systemair. - With this acquisition we will strengthenour position in India and improve our opportunities to market thecomplete Systemair product range in the Indian market.For further information please contact:Gerald Engström, CEO +46 705190001Glen Nilsson, CFO +46 706544003Anders Ulff, Vice President Administration, +46705774009Svein Nilsen, Vice President Sales & Market, +4793062700Systemair in briefSystemair is a leading ventilation company with operations in 38countries in Europe, North America, the Middle East, Asia, Africa andAustralia. The Company had sales of approximately SEK 3.3 billion inthe 2008/09 financial year and currently employs about 1,960 people.Since it was founded in 1974, the Company has increased sales everyyear and at the same time reported an operating profit. During thepast three years, the Company's growth rate has averaged roughly 13percent. The Group comprises about 50 companies.Systemair has well-established operations in growth markets. TheGroup's products are marketed under the Systemair, Frico, VEAB andFantech brands. Systemair shares have been quoted on the Mid Cap Listof the Nasdaq OMX Nordic Exchange in Stockholm since October 2007.http://hugin.info/138279/R/1352755/327406.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

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Bereitgestellt von Benutzer: hugin
Datum: 05.11.2009 - 08:05 Uhr
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