Systemair makes an acquisition in the United States
Systemair has on May 13 2008 acquired the assets of Emerson Ventilation from the
American company Emerson Climate Technologies, the company is based in Kansas
City and has been manufacturing fans since the 1890's.
The operation comprises the manufacture of fans and ventilation materials with a
turn over of approx. 10 million US dollars.
The operations will be integrated with Systemair´s present activities in North
America, which are carried out under the name Fantech and are presently
concentrated mainly on the housing sector.
- With this acquisition we have a base for our continued concentration on the
building up our commercial product range within North America and we see this
move as giving us greater scope to increase our presence in the market, says
Gerald Engström, CEO of Systemair.
For further information, please contact
Gerald Engström, CEO, +46 222 440 01, mobile +46 70 519 00 01
Glen Nilsson, CFO, +46 222 440 03, mobile +46 70 654 40 03
Systemair in brief
Systemair is a leading ventilation company, with activities in 38 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 approximately 1,850 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 50 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 12 October 2007.
