Systemair AB (NASDAQ OMX Stockholm: SYSR) has signed a lease contract for an industrial building in Wujiang for the production of commercial air handling units for the Chinese market.
The factory covers 8,400m2 of which 1,400m2 is for office and exhibition space and is located in Wujiang Industrial Park in Suzhou, about 100km west of Shanghai. The industrial building is now complete and the production of air handling units is expected to start during spring 2015.
"We see good opportunities to expand our market share in China with our high-quality air handling units which will be locally produced. The market is already showing great interest in our products and our experience is that local production provides good opportunities for additional sales of our entire product range.", says Systemair's CEO Gerald Engström.
"The plant will manufacture products mainly for the Chinese market but will eventually deliver to surrounding countries in Southeast Asia as well.", continues Gerald Engström.
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
Mats Lund, Vice President Production, +46 70 516 12 99
Systemair AB, SE-739 30 Skinnskatteberg, Sweden, +46 222 440 00, www.systemair.com
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 4,500 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.
