Indutrade today signed an agreement to acquire all the shares in Spinova AB, with annual sales of approximately SEK 60 M.
Spinova in Torsås is one of Sweden’s leading manufacturers of customised springs and wire forms. Its products are used in hydraulic systems, locks, garage doors, pumps, water and wastewater applications, and equipment for the food industry, among other things.
With the acquisition of Spinova, Indutrade is entering a new area of technology and will gain a larger share of own-manufactured products.
This acquisition is Indutrade’s sixth in 2006, with total annual volume of SEK 253 M.
The acquisition is expected to have a marginal positive effect on Indutrade’s earnings per share.
Stockholm, 15 June 15 2006
INDUTRADE AB (publ)