As announced in a press release on 22 September, Indutrade today carried out the acquisition of all the shares in the German Inovatools Group (www.inovatools.eu), with annual sales of approximately EUR 33 million.
Inovatools, established in 1990, is a manufacturer of metal cutting tools. Its offering is centered around solid carbide end mills and tools. Customers are in the mechanical engineering industry, aeronautical engineering industry, automobile industry and tool manufacturing industry. Half of the group’s sales are exported, while the other half are sold to customers in Germany. Inovatools has subsidiaries in Italy, Spain, Portugal, Austria, the USA and Turkey. The group has some 200 employees.
Possession of the company takes place today and Inovatools will be included in Indutrade’s Special Products business area.
The acquisition is expected to have a marginally positive impact on Indutrade’s earnings per share.
Stockholm, 27 November 2017
INDUTRADE AB (publ)