Systemair invests further in Asia
Systemair has acquired Megcool Industries i Kuala Lumpur with 1st of May as day
of taking possession. Megcool has an annual turnover of SEK 20 million with an
operating profit of SEK 3 million.
The company manufactures and market products for tunnel- and garage ventilation.
The former owners, with 30 years of experience from the fan industry, will stay
active in the company.
- This acquisition will give us a competitive production unit within the region
and a base for the Groups continued concentration in Asia. We see good
conditions for increased sales of Systemair's whole product assortment. The
establishment in Malaysia will also be a logistic centre for further
distribution in the region, says Gerald Engström, CEO for Systemair.
In connection with the acquisition, the company will change the name to
Systemair.
For more information, please contact
Gerald Engström, CEO, +46 222 44001, mobile +46 70 519 00 01,
Glen Nilsson, CFO, +46 222 44003, mobile +46 70 654 40 03,
Mats Lund, vice president production, +46 70 516 12 99
Systemair in brief
Systemair is a leading ventilation company, with activities in 37 countries in
Europe, North America, Asia, the Middle East, South Africa and Australia. The
Company had sales of just over SEK 2.7 billion in the preceding financial year
and more than 1,800 employees. Since its foundation in 1974, Systemair has
steadily increased its annual sales while simultaneously returning positive
operating profits. Over the past decade, the company has averaged 16 percent
annual growth in sales. The Group comprises around 60 companies. Systemair has
well-established operations in a number of growth markets - notably those of
Central and Eastern Europe, including Russia. The Group's products are marketed
under the brands Systemair, Frico, VEAB and Fantech. Systemair shares have been
traded on the Mid Cap List of the OMX Nordic Exchange in Stockholm since October
2007.
