Lindab enhances the ventilation product offering in the Danish market - acquires Juvenco A/S
Lindab has today entered an agreement to acquire the Danish company Juvenco A/S, primarily marketing fans for ventilation systems. The company has sales of approximately SEK 13 million and has its head office just outside Copenhagen, in close proximity to one of Lindab's large ventilation branches. The Juvenco operations will move into Lindab's premises during the integration process.
Juvenco has been an established fan provider for the Danish market for the past 35 years. The acquisition, made in connection with a generational shift at Juvenco, will strengthen the distribution of complete indoor climate solutions (comfort), a product area with particularly strong growth potential. The founder of Juvenco will remain as an advisor for a transitional period.
"This acquisition is in line with our strategy of extending distribution and our product offering to Ventilation customers," says President and CEO, David Brodetsky. "It strengthens our position in Denmark which is already one of our key markets."
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The information here is that which Lindab International 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.
Contacts:
LINDAB
David Brodetsky, CEO
Email: david.brodetsky@lindab.com
Mobile: +46 (0)73 274 5418
Nils-Johan Andersson, Business Area Manager, Ventilation
Email:nils-johan.andersson@lindab.com
Mobile:+46 (0)70 668 5075
Lindab - A Ventilation and Building Products company:
Lindab develops, manufactures, markets and distributes products and system solutions primarily in steel for simplified construction and improved indoor climate.
The business is carried out within three business areas, Ventilation, Building Components and Building Systems. The products are characterised by their high quality, ease of assembly, energy efficiency, consideration towards the environment, and are delivered with high levels of service. Altogether, this increases customer value.
The Group had net sales of SEK 6,527 m in 2010, was established in 31 countries and had approximately 4,400 employees. The main market is non-residential construction, which accounts for 80 percent of sales, while residential accounts for 20 percent of sales. During 2010, the Nordic market accounted for 45 percent, CEE/CIS (Central and Eastern Europe as well as other former Soviet states) for 22 percent, Western Europe for 29 percent and other markets for 4 percent of total sales.
The share is listed on the Nasdaq OMX Nordic Exchange, Stockholm, Mid Cap, under the ticker symbol LIAB. The principal shareholders are Ratos, Sjätte AP-fonden and Skandia Liv. For more information visit www.lindabgroup.com.