Systemair completes the acquisition of Climaproduct
Systemair has completed the acquisition of the Italian ventilation company
Climaproduct in accordance with the earlier intentional agreement from August
2007. Climaproduct has an annual turnover of EUR 10,7 million (100 MSEK) with an
operating profit of EUR 1,1 million (10 MSEK).
Climaproduct have been in business for 20 years and they have a total of 40
employees. The head office is situated in Milan with a smaller production unit
in Padova. The company which since 1992 has been a distributor for Systemair is
also supplying ventilation products from other producers than Systemair.
- Today our products only constitute a minor part of Climaproduct´s sales. The
acquisition is a part of our European venture and gives us a platform in Italy.
We see great opportunities for increased sales of the complete Systemair product
range, says Gerald Engström, CEO for Systemair.
Systemair will take over the Company as of January 1 this year and the Company
name will be changed to Systemair Climaproduct.
For further information, contact
Gerald Engström, CEO, +46 222 440 01 or +46 70 519 00 01
Glen Nilsson, CFO, +46 222 44003 or +46 706544003
Systemair in brief
Systemair is a leading ventilation company with its main activities in Europe
and in North America. The company turned over 280 MEUR during the financial year
2006/2007 and has approx. 1700 employees. Systemair has a well established
presence in growth markets, especially in Central and Eastern Europe including
Russia. The Group´s products are sold under the brand names Systemair, Frico,
VEAB and Fantech. Since the formation of Systemair in 1974 the company has
increased its sales every year, always producing positive results. During the
last ten years the company has achieved an average annual growth of 16 percent.
The company was listed in the OMX Nordic Exchange in Stockholm in October 2007.
