OPCON: Opcon acquires Mitec Instrument AB

Opcon acquires Mitec Instrument AB Opcon signed a declaration of intent today concerning the acquisition of 100% of Mitec Instrument AB. The acquisition is an important part of Opcon's strategy of achieving growth through technology developed by its subsidiaries for the production of electricity from surplus heat (Opcon Energy System) and actuators (REAC). Mitec is a highly advanced supplier of products and systems developed in-house for measurement, control, regulation, mobile data collection and wireless internet-based operational surveillance of complicated products and industrial systems. "The acquisition of Mitec is an important addition to our business. Mitec brings core competence to our company and secures the service and aftermarket business that is being established in Opcon Energy Systems and which is part of future customer assignments. We can now make a complete product offer to the customer, including systems, installation and operational monitoring," says Rolf Hasselström, CEO of Opcon. "Furthermore we gain access to resources that will enable us to develop REAC's actuator business with more advanced products and systems. This includes technology for monitoring, positioning, control and regulation, which are key components for the strategic development of REAC," adds Hasselström. The acquisition also means that Opcon gains a platform on which it can build aftermarket activities for several of the Group's activities. "Mitec has a strong base selling its own products and systems that will now have the opportunity to develop further within Opcon through the financial and business strengths created by the change of ownership," says Rolf Hasselström. For further information, please contact: Rolf Hasselström, President and CEO of Opcon AB, +46 8 466 45 00, +46 70 594 79 60 Svein Valheim, vice President of Opcon AB and President of SEM AB, +46 532 611 64, +46 70 678 22 17 Opcon AB, Box 30, S-662 21, Åmål, Sweden Tel. +46 532 613 00, fax +46 532 120 19 e-post: info@opcon.se www.opcon.se Opcon is an industrial Group with activities in Sweden, the US and China. The Group comprises the parent company, Opcon AB, and nine subsidiaries - SEM, REAC, Svenska Rotor Maskiner (SRM), Opcon Energy Systems (OES), Lysholm Technologies, Opcon Autorotor, Laminova Production, Opcon Inc. and Opcon Technology Suzhou (OTS). There are around 400 employees. The company is listed on the OMX exchange. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://wpy.waymaker.net/client/waymaker1/f.aspx?id=355971&fn=wkr0010.pdf