Acquisition of SCM Frigo strengthens the transition to environment-friendly refrigeration technology

The Swedish refrigeration group, Beijer Ref AB, is acquiring the remaining 49
per cent of the shares in the Italian SCM Frigo Group, a leading manufacturer in
Europe of refrigeration units based on environment-friendly carbon dioxide
technology. SCM Frigo, established in 1979, exports around 85 per cent of its
products and has a strong market position within the rapidly expanding segment
for environment-friendly refrigeration technology. The company reports sales of
approximately SEK 240M and has 90 employees.

“Beijer Ref acquired 51 per cent of SCM Frigo in 2011 as it is one of the
European companies which most successfully drives the transition to environment
-friendly solutions within the refrigeration industry. The company’s development
has since been so positive that our Group now elects to bring forward the option
to acquire the remaining portion, says Per Bertland, CEO of Beijer Ref. ’With
its unique technical competence within, for example, trans-critical carbon
dioxide based refrigeration systems, SCM Frigo is included as an important part
in Beijer Ref’s future strategy”.

SCM Frigo supplements Beijer Ref’s other product portfolio with standard
products as well as customer-adapted solutions with the market’s most up to date
environmental technology. This is expected to strengthen the Group’s
competitiveness. SCM Frigo’s company management will continue to work in the
company.

The acquisition is expected to have a positive effect on Beijer Ref’s net result
as early as 2014. SCM Frigo, which since 2011 has been consolidated in
accordance with the acquisition method, will be included as fully consolidated
without a minority share in Beijer Ref’s accounts from Q3 2014.


Malmö, 30 July 2014
Beijer Ref AB (publ)

For further information, please contact:
Per Bertland, CEO
Telephone +46 40-35 89 00
Mobile +46 705-98 13 73

or
Jonas Lindqvist, CFO
Telephone +46 40-35 89 00
Mobile +46 705-90 89 04

Beijer Ref is a technology-oriented trading Group which, through added-value
products, offers competitive solutions for its customers within refrigeration
and climate control.