OEM International AB acquires remaining 50% of Swedish automation components supplier Crouzet AB

Nordic Business Report, Jan 23, 2007

NORDIC BUSINESS REPORT-23 January 2007-OEM International AB acquires remaining 50% of Swedish automation components supplier Crouzet AB(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com

Swedish industrial components and systems trading company OEM International AB said on Tuesday (23 January) that it has acquired the outstanding 50% of the shares of Swedish automation components supplier Crouzet AB from French group Crouzet Automatismes SAS.

The purchase price was EUR625,000.

Crouzet, based in Stockholm, supplies control and automation systems to manufacturers, wholesalers and end users. The company has 17 employees and a turnover of SEK51m, of which SEK18m represents deliveries to OEM International.

OEM International said that it plans to gradually integrate Crouzet into its subsidiary OEM Automatic AB and OEM Motor AB.

"Through this acquisition, OEM and Crouzet have further intensified their partnership, which will strengthen our competitive edge," commented

Mikael Thornkvist, business director of OEM Automatic.

OEM International is headquartered in Tranas, Sweden. The company has 541 employees in 10 countries and reported turnover of SEK1,525m in 2005. OEM International is listed on the Nordic Exchange in Stockholm.

One British pound (GBP) is worth approximately 1.49 euros (EUR). One British pound (GBP) is worth approximately 13.38 Swedish kronor (SEK).

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