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Lagercrantz Group acquires Plåt & Spiralteknik

2012-07-03 12:30
Regulatory

Lagercrantz Group has today acquired all shares outstanding in Swedish company Plåt & Spiralteknik i Torsås AB (PST).

PST is a niched player that develops, manufactures and markets shaftless spiral conveyors in Sweden, Europe and worldwide. Customers are found among companies active in biofuel handling, waste water treatment, to sawmills and the recycling industry. PST has annual sales of more than MSEK 40 with good profitability.

“PST shows an excellent development based on a strong portfolio of proprietary products. We envision that we will be able to develop the business further together with Bertil Övgård both in Sweden and for export" comments Jörgen Wigh, President and CEO of Lagercrantz Group.

Bertil Övgård, President and owner of PST: ”With Lagercrantz as owner, we get a long-term and strong owner who shares our vision of the company’s potential for the future as well as our values. With Lagercrantz as owner I feel highly confident in the company’s future.”

PST will be a part of Lagercrantz Group’s division Niche Products from July 2012. The acquisition is expected to generate a small positive contribution to consolidated earnings per share on an annual basis.

Stockholm, 3 July 2012

Lagercrantz Group AB (publ)

For additional information, contact:

Jörgen Wigh, President & CEO, Lagercrantz Group AB, telephone +46 70 569 5477.
Magnus Söderlind, Executive Vice President with responsibility for acquisitions, Lagercrantz Group AB, telephone +46 8 700 66 80.

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 3 July 2012 at 12:30.

LAGERCRANTZ GROUP IN BRIEF
   Lagercrantz is a technology group in the areas of electronics, electricity, communication and related fields. The Group’s companies deliver all its specialised products and solutions to other companies (B2B) and several of the companies are world-leaders in their respective niches. Lagercrantz is active in eight countries in Northern Europe and in China. The Group has about 800 employees and revenue of approximately SEK 2,300,000,000. The Company’s shares are listed on NASDAQ OMX Stockholm since 2001.
   The business is organised in four divisions. Division Electronics offers special products in embedded electronics, industrial wireless communication, RFID and lighting control. Division Mechatronics offers electric connections systems, electric installation materials, electric and electro-mechanical components and cabling. Division Communications offers products, systems, services and support in network access, digital image transmission/technical security, and software. Division Niche Products is the Group’s new division from April 2012. Here a number of interesting market positions will be built up primarily by acquiring profitable companies in interesting niches and with a large element of proprietary products.