Business Services Industry
Swedish industrial components dealer OEM International AB acquires Danish company Klitso Processtechnic A/S
Nordic Business Report, Nov 20, 2007
NORDIC BUSINESS REPORT-20 November 2007-Swedish industrial components dealer OEM International AB acquires Danish company Klitso Processtechnic A/S(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com
Swedish industrial components and systems trading company OEM International AB said on Tuesday (20 November) that it has agreed to acquire the Danish company Klitso Processtechnic A/S.
The purchase consideration comprises a firm sum of approximately DKK30m and additional payments of up to DKK6m.
Klitso Processtechnic, based in Allerod, Denmark, valves and pneumatics to Danish industrial customers. The company has 24 employees and is expected to achieve a turnover of approximately DKK70m in 2007.
"Klitso is a respected actor and has a strong market position within valves and pneumatics in Denmark. Through the acquisition OEM gets a stronger platform in Denmark," commented Jorgen Zahlin, CEO of OEM International.
OEM International, headquartered in Tranas, Sweden, sells industrial components and systems through 25 operating units in 10 countries. The group has some 560 employees and reported a turnover of SEK1.45bn in 2006. OEM International is listed on the OMX Nordic Exchange in Stockholm.
One British pound (GBP) is worth approximately 10.41 Danish kroner (DKK). One British pound (GBP) is worth approximately 12.95 Swedish kronor (SEK).
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