Indutrade today acquired all of the shares in technology sales company Sigurd Sørum AS, Sandvika, Norway, with annual sales of approximately SEK 60 million.
Founded in 1927, the company is a well-known supplier in the Norwegian market with a broad product programme of valves, couplings and instruments. Customers are primarily in the process industry, as well as in the oil, gas and offshore industries.
Through the acquisition of Sigurd Sørum, Indutrade will be strengthening its position in the Norwegian market and also in the oil and gas market segments. Organisationally, the company will be included in Indutrade’s Flow Technology business area, which had net sales of SEK 1,073 million in 2006.
The acquisition, which is Indutrade’s third this year, is expected to have a marginally positive impact on Indutrade’s earnings per share. Combined sales of the companies acquired this year amount to SEK 161 million.
Stockholm, 7 March 2007
INDUTRADE AB (publ)