Precision Products, with an extensive customer base in 48 countries, is a well-established supplier of piston rings to the international marine engine industry as well as products for other industrial applications. Manufacturing and sales are conducted in Chesterfield.
”Precision Products fits well in to our strategy of acquiring niche companies with a high level of technical expertise and building clusters,” says Johnny Alvarsson, President and CEO of Indutrade. ”The company will be included in a cluster together with the spring manufacturers Spinova and Carrab Industri.
Organisationally, Precision Products will be part of the Special Products business area, which had net sales of SEK 1,094 million.
Possession of the company takes place today, and the acquisition is expected to have a marginally positive impact on Indutrade’s earnings per share.
Stockholm, 22 January 2008
INDUTRADE AB (publ)