Business Services Industry
Karolin Machine Tool AB acquires French service company
Nordic Business Report, Feb 22, 2007
NORDIC BUSINESS REPORT-22 February 2007-Karolin Machine Tool AB acquires French service company(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com
Swedish production machines developer and manufacturer Karolin Machine Tool AB (KMT Group) said on Thursday (22 February) that it has acquired its French cooperation partner AquaForce for an undisclosed sum.
AquaForce offers service contracts, remodelling, spare parts and maintenance of waterjet cutting machines, primarily in the French market. The company has five employees. Excluding sales to KMT Group AquaForce had sales of EUR1.5m in 2006.
"We have had productive cooperation with AquaForce since 2004 and a large portion of their sales is attributable to KMT's installed base. We are acquiring AquaForce with the aim of strengthening our position in the southern European market in general and the French market in particular," said Sten Camitz, president of KMT Cutting Systems.
KMT Group, headquartered in Stockholm, Sweden, develops and manufactures advanced production machines and system solutions for the engineering industry. KMT is listed on the Nordic Exchange in Stockholm.
One British pound (GBP) is worth approximately 1.48 euros (EUR).
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