Systemair AB (NASDAQ OMX Stockholm: SYSR) acquires the German company TTL Tür + Torluftschleier Lufttechnische Geräte GmbH, a high-end manufacturer of air curtains for commercial applications.
TTL is located in Winterbach, west of Stuttgart and turned over around 4 million EUR. Systemair will take over 24 employees, the leased factory and office building of 4,000 sqm apart from the assets of the company.
"We see great opportunities with the company's unique knowledge within air curtain solutions and market presence. This acquisition gives us a strengthened position in Germany and synergies in distribution, product development and manufacturing", says Systemair's President and CEO Roland Kasper.
For further information contact:
Roland Kasper, CEO, + 46 73 094 40 13, +46 222 440 13
Anders Ulff, CFO, + 46 70 577 40 09, +46 222 44 009
Systemair AB, SE-739 30 Skinnskatteberg, Sweden, +46 222 440 00, www.systemair.com
Note: The information here is that which Systemair AB has willingly chosen to make public or that which it is obliged to make public according to the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was published at 13:00 (CET) on September 29, 2016.
Systemair in brief
Systemair is a leading ventilation company with operations in 49 countries in Europe, North- and South America, the Middle East, Asia and Africa. The Company had sales of SEK 6.1 billion in financial year 2015/16 and currently employs about 4,800 people. Systemair has reported an operating profit every year since 1974, when the Company was founded. During the past 15 years, the Company's growth rate has averaged about 12 percent.
Systemair has well-established operations in growth markets. The Group's products are marketed under the Systemair, Frico, VEAB, Fantech, Menerga and Holland Heating brands. Systemair shares have been quoted on the Mid Cap List of the OMX Nordic Exchange in Stockholm since October 2007. The Group comprises about 60 companies.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Systemair AB via Globenewswire