Systemair acquires Austrian manufacturer of Air Handling Units
Press Release, 25th of April 2017
Systemair AB (NASDAQ OMX Stockholm: SYSR) has acquired the Austrian company FRIVENT Luft- & Wärmetechnik GmbH, a high-quality manufacturer of air handling units.
Frivent is located in St. Johann in Tirol, Austria, and achieves a turnover of around 7 million EUR by selling to commercial and industrial applications in Austria, Germany, Czech and Russia. The company produces air handling units, heat recovery systems and unique roof units for several niche applications.
"We see great opportunities with the company's unique knowledge within niche applications and their current market presence. This acquisition gives us a strengthened position in the region and a possibility to coordinate our activities in Austria", 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 08:00 (CET) on April 25, 2017.
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 5,000 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.