Indutrade today acquired all of the shares in Milltech Precision Engineering Ltd, UK, with annual sales of GBP 3.8 million.
Milltech is a specialist machining and sub-assembly/assembly sub-contractor to a wide range of manufacturing industries supplying one offs and prototype work, volume production of individual precision components through to full product assemblies. Major customer segments are hydraulics, oil and gas, marine, food and fire protection.
Possession will be transferred today, and the company will be part of Indutrade’s Special Products business area. The acquisition is expected to have a marginal positive impact on Indutrade’s earnings per share.
Stockholm, 18 March 2015
INDUTRADE AB (publ)