Indutrade gains foothold in the UK
Indutrade today acquired all of the shares in International Plastic Systems
Limited (IPS), a technical sales company in Newcastle with annual sales of SEK
115 million.
IPS is one of the UK's leading suppliers of plastic piping systems and valves,
with a broad product range of installation tools and welding equipment. IPS
combines technical problem-solving with traditional distribution. The company's
customers are found in segments ranging from water treatment, swimming pools and
fire safety, to the chemical and construction industries."This acquisition is a milestone for us, since it entails Indutrade's
establishment in a new country that makes up the largest market for our type of
business in Europe," says Johnny Alvarsson, President and CEO of Indutrade. "We
see this step as a springboard for our continued expansion in Europe."
Organisationally IPS will be included in the Flow Technology business area,
which had annual sales of SEK 1,073 million in 2006.
IPS is Indutrade's eleventh acquisition this year and is expected to have a
marginally positive impact on Indutrade's earnings per share. The companies
acquired to date during the year have combined annual sales of approximately SEK
565 million.
Stockholm, 22 October 2007
INDUTRADE AB (publ)
For further information, please contact:
Johnny Alvarsson, President and CEO, phone: +46 8 703 03 00 or +46 70 589 17 95.
About Indutrade
Indutrade markets and sells components, systems and services with a high-tech
content within selected niches. Indutrade's business is distinguished by:
• High-tech products for recurring needs
• Growth through a structured and tried-and-tested acquisition strategy
• A decentralised organisation characterised by an entrepreneurial spirit
The Group is structured into four business areas: Engineering & Equipment, Flow
Technology, Industrial Components and Special Products. Indutrade's sales
totalled SEK 4,516 million in 2006, generating operating income of SEK 460
million before depreciation of intangible assets. Indutrade is listed on the OMX
Nordic Exchange in Stockholm.
