Inwido, the Nordic region's leading window and door manufacturer, is
to acquire the Finnish company Tiivi. Tiivi with sales of EUR 52
million in 2006 manufactures wooden and wood/aluminium windows and
doors and has production facilities in Finland and Russia."Through Tiivi we are taking a step into the Finnish house
renovations and rebuilding market, where we were weak before," says
Inwido's CEO Sven-Gunnar Schough. "The company's production facility
in Murmansk also offers attractive opportunities in times when access
to wood raw material is becoming an increasingly critical factor."
The family owned company Tiivi was founded in 1977 in Haapajärvi in
Ostrobothnia. Approximately 75% of the company's sales take place in
Finland and the remainder go to Sweden and Russia. The company has
445 employees and posted an operating profit (EBITA) of EUR 2m in
2006.
Inwido Finland previously comprised the two companies Pihlavan
Ikkunat and Eskopuu Ikkunat with a total of 340 employees.
Sales for the entire Inwido Group in 2006 totalled approximately SEK
3.3 billion of which over SEK 450m comprised sales in Finland.
Consolidated operating profit (EBITA) in 2006 was SEK 390m. After the
acquisition of Tiivi the number of employees in the Group will total
3,400, of whom 785 in Finland.
Inwido will invest SEK 50m in the acquisition of Tiivi. Ratos, which
owns 95% of Inwido, will not provide additional capital. The
acquisition is subject to approval from the relevant competition
authorities.
At the same time as the Finnish acquisition is being carried out,
Inwido Sweden has announced the acquisition of ABC Snickerier in
Hindås. ABC Snickerier, which manufactures fillets and architraves,
had sales in Sweden and Denmark of SEK 33m in 2006.
For further information, please contact:
Leif Johansson, Investment Director Ratos, +46 705 20 40 25
Sven-Gunnar Schough, CEO Inwido, +46 706 02 34 78
Anna-Karin Celsing, Head of Corporate Communications Ratos, + 46 703
99 62 39
Financial calendar from Ratos:
Interim report January-June 21 August 2007
Interim report January-September 9 November 2007
Ratos is a listed private equity company. The business concept is to
maximise shareholder value over time by investing in, developing and
divesting primarily unlisted companies. Ratos thus offers stock
market players a unique investment opportunity. The equity of Ratos's
investments is approximately SEK 11 billion. Ratos's holdings include
Anticimex, Arcus Gruppen, Bisnode, Bluegarden, Camfil, DIAB,
GS-Hydro, Haendig, Haglöfs, HL Display, Hägglunds Drives, Inwido,
Jøtul, Lindab, MCC, Medifiq Healthcare, RH/RBM, Superfos and Other
holdings.
