Indutrade acquires Norwegian company in oil and gas industry

Indutrade today signed an agreement to acquire all of the shares in Thermotech AS, Norway, with annual sales of approximately SEK 70 million.

Thermotech sells products and services in heat treatment, machine service and bolt tension. Customers are mainly in the Norwegian oil and gas industry, both on- and offshore.

Possession is expected to take place in January 2013 after clearance has been obtained from the Norwegian competition authorities. The company will be part of Indutrade's Industrial Components Business Area.

The acquisition is expected to have a marginally positive effect on Indutrade's earnings per share.

Stockholm, 13 December 2012

INDUTRADE AB (publ)
    

This information is in accordance with the Swedish Securities Market Act, the Swedish Financial Instruments Trading Act and/or the regulations of Nasdaq OMX Stockholm. The information was submitted for publication at 12.30 p.m. on 13 December 2012.

  
  

For further information, please contact:
Johnny Alvarsson, President and CEO, tel. +46-70-589 17 95

About Indutrade
Indutrade markets and sells components, systems and services with a high-tech content within selected niches. Indutrade’s business is distinguished by

  • High-tech products for recurring needs
  • Growth through a structured and tried-and tested acquisition strategy
  • A decentralised organisation characterised by an entrepreneurial spirit.

The Group is organised into four business areas: Engineering & Equipment, Flow Technology, Industrial Components and Special Products. Indutrade’s sales totalled SEK 7,994 million in 2011, generating operating income of SEK 917 million before depreciation of intangible assets. Indutrade is listed on the Nasdaq OMX Stockholm.