The ventilation company Systemair has acquired the Dehumidification
Division from the Canadian company W.C. Woods. The division, with an
annual sales of 5 million dollars, will be moved to Systemair's
subsidiary in Canada. The products will continue to be sold under the
Wood's brand in Europe and under the Fantech brand name in US and
Canada.
- The dehumidification products are a kindred product area that suits
our production well. It is focused on the commercial market and will
be a good complement for our distribution network in North America,
says Gerald Engström, CEO Systemair.
For further information, please contact:
Gerald Engström, CEO, +46 222-440 01, mobile +46 705 19 0 0 01
Glen Nilsson, CFO, +46 222-44003, mobile +46 706 544 003
Systemair AB, SE 739 30 Skinnskatteberg , Sweden , Phone + 46 222 440
00 , www.systemair.com
Systemair in brief
Systemair is a leading ventilation company with operations in 38
countries in Europe, North America, the Middle East, Asia, Africa and
Australia. The Company had sales of more than SEK 3.3 billion in the
2008/09 financial year and currently employs about 1,960 people.
Since it was founded in 1974, the Company has increased sales every
year and at the same time reported an operating profit. During the
past three years, the Company's growth rate has averaged roughly 13
percent. Systemair has well-established operations in growth markets.
The Group's products are marketed under the Systemair, Frico, VEAB
and Fantech brands. Systemair shares have been quoted on the Mid Cap
List of the Nasdaq OMX Nordic Exchange in Stockholm since October
2007.
