Addtech has today signed an agreement to acquire 90 per cent of the shares
outstanding in Hans Følsgaard A/S.
Hans Følsgaard is a technology trading company that delivers components and
systems to OEM customers and larger end users within the manufacturing industry
and also products within infrastructure and power transmission to e.g. electric
power producers and wind power manufacturers. Hans Følsgaard has operations with
own companies in Denmark, Norway and Sweden. During the financial year 2013 the
Hans Følsgaard Group had net sales of around DKK 300 million, an operating
profit of around DKK 20 million and 65 employees.
Hans Følsgaard’s product portfolio within the areas OEM components, automation
and fibre technology strengthens the business area Component’s operations within
corresponding areas on the geographical markets respectively. For the business
area Energy the product portfolio of Hans Følsgaard within electrical power,
electrical technology and cables complements the operations within the business
units Energy Supply and Energy Products. Half of Hans Følsgaard’s sales and
earnings will be reported in the business area Components and half will be
reported in the business area Energy.
The closing is estimated to take place in the beginning of July 2014. The
Følsgaard Fund which is one of the existing owners will until further notice own
10 per cent of the shares in the company. The acquisition is estimated to have a
positive effect on Addtech's earnings per share during the current financial
Stockholm, June 17, 2014
Addtech AB (publ)
For further information, contact
Johan Sjö, President, Addtech AB, +46 8 470 49 00
Anders Claeson, Business area manager, Addtech Components, +46 708 641 516
Åke Darfeldt, Business area manager, Addtech Energy, +46 708 870 515
GlobeNewswire, a NASDAQ OMX company, is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.