Systemair (NASDAQ OMX Stockholm: SYSR) has reached an agreement to acquire the
sales company Camair, supplying products for air conditioning and ventilation
systems for the commercial market in Belgium. The deal is expected to be
completed on October 1.
The company, which is located in Seneffe 40km south of Brussels, has an
estimated turnover of € 7 million for the calendar year 2014 with 22 employees.
The acquisition includes a modern property of 3,000m(2) comprising offices,
showroom and warehouse.
"This gives us a much stronger position in Belgium and contributes to the group
with competence within commercial air conditioning," says Systemair CEO Gerald
"We see great synergies with our latest acquisition Airwell in France and our
Italian production of chillers. We will also collocate our operations in Belgium
and take advantage of synergies in administration and logistics", says Gerald
For further information, please contact:
Gerald Engström, CEO, + 46 222 44 001, + 46 70 519 00 01
Anders Ulff, CFO, + 46 222 440 09, + 46 70 577 40 09
Systemair AB, SE-739 30 Skinnskatteberg, Sweden, +46 222 440 00,
Systemair in brief
Systemair is a leading ventilation company with operations in 45 countries in
Europe, North- and South America, the Middle East, Asia and South Africa. The
Company had sales of SEK 5.3 billion in financial year 2013/14 and currently
employs about 4,250 people. Systemair has reported an operating profit every
year since 1974, when the Company was founded. During the past 15 years, the
Company's growth rate has averaged about 13 percent.
Systemair has well-established operations in growth markets. The Group's
products are marketed under the Systemair, Frico, VEAB, Fantech, Menerga and
Holland Heating brands. Systemair shares have been quoted on the Mid Cap List of
the OMX Nordic Exchange in Stockholm since October 2007. The Group comprises
about 60 companies.
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