acquisition Holmgrens in Sweden

highlights

acquisition Holmgrens Försäljnings AB, Sweden
producer of high quality fittings, to be integrated in Raufoss Water & Gas Group
38 employees, annual revenue approximately EUR 8 million

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27 September 2006 at 00:00

Aalberts Industries strengthens its position in the Scandinavian market

Aalberts Industries N.V., which operates in the fields of Industrial Services and Flow Control, announces to acquire 100% of the shares of Holmgrens Försäljnings AB, established in Gnosjö, Sweden.

Holmgrens is a producer of high quality fittings for the Scandinavian market. With 38 employees Holmgrens realises an annual turnover of more than EUR 8 million. The products and market position of Holmgrens further strengthen Aalberts Industries’ Flow Control activities in Scandinavia. The current management will continue to expand Holmgrens as a standalone company being part of the Raufoss Water & Gas Group.

The acquisition of Holmgrens will be consolidated as of 1 October 2006 and will directly contribute to the growth of the earnings per share. The acquisition will be financed from own resources.