PRESS RELEASE 2010-05-03 Lagercrantz Group acquires Norwesco AB Lagercrantz Group AB has today acquired all shares in Norwesco AB. Norwesco develops, manufactures and markets a niche range of electro-mechanical products for the electronics and construction industries. Norwesco recorded sales of approximately SEK 50 million in 2009 and displayed good profitability. The company's head office is situated in Täby and production takes place in Öregrund. Norwesco was previously owned by Siemens and Schneider Electric. Jörgen Wigh, President and CEO of Lagercrantz Group, comments on the acquisition as follows: “The acquisition of Norwesco is a step in our ambition of raising the degree of operations with own products and thereby adding value to our offering”. Stefan Andersson, CEO of Norwesco AB: “With Lagercrantz as owner, Norwesco secures a long-term owner which provides security and stability to our customers and suppliers, while at the same time giving us opportunities for future expansion.” Norwesco will be part of Lagercrantz' division Mechatronics. The acquisition is expected to make a small positive contribution to the group's earnings per share during the financial year 2010/11 which extends until March 2011. More information may be found on www.lagercrantz.com or www.norwesco.se. Stockholm, 3 May 2010 Lagercrantz Group AB (publ) For additional information, please contact: Jörgen Wigh, President & CEO, Lagercrantz Group, telephone +46 8 700 66 70, or the company website at: http://www.lagercrantz.com This information is disclosed in accordance with the Securities Markets Act, the Financial Instruments Trading Act or according to the agreement with NASDAQ OMX Stockholm Exchange. The information was submitted for publication on 03-05-2010 at 14.10. LAGERCRANTZ GROUP IN BRIEF Lagercrantz Group is a technology trading group in electronics, electrics, communication and adjacent areas. The Group operates in a decentralised mode with value-creating sales in close proximity to its customers and markets and has a leading position in several expansive niches. Operations are organised in three divisions. Division Electronics is primarily involved in marketing solutions in wireless industrial communication and embedded systems. Division Mechatronics offers electro-mechanical components and production of cable harnesses and electric connection systems. Division Communications provides solutions in digital image transmission/technical security, design software and access products. Manufacturing companies are the primary customers. Lagercrantz is today represented in eight countries in Northern Europe, and in China. The Group has sales of MSEK 1,800 and has approximately 600 employees. Lagercrantz is listed on NASDAQ OMX Stockholm Exchange, segment Small Cap. Additional information is available at www.lagercrantz.com.
Lagercrantz Group acquires Norwesco AB
| Quelle: Lagercrantz Group AB