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Sweden's Lindab International AB acquires Slovakian building components manufacturer Sipog Group

Nordic Business Report, May 7, 2008

Swedish sheet metal products group Lindab International AB (OMX Stockholm:LIAB) announced on Wednesday (7 May) that it has agreed to acquire the Slovakian building components manufacturer Sipog Group in a EUR24.5m deal.

Sipog Group, with operations in Slovakia, Romania and the Czech Republic, manufactures and sells metal roofing, wall cladding products and roof drainage systems under the brands Rova and Vios. The company has 190 employees and reported net sales of EUR37m in 2007.

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"Through the acquisition, we become the market leader in Slovakia and gain access to cost efficient production and an extended distribution network, as well as two strong and well established brands," said Peter Andsberg, manager of Lindab International's business area Lindab Profile.

The coordination of the acquired operations with Lindab International's existing operations in the region is also expected to generate "considerable" synergy gains, the company said.

Lindab International, headquartered in Grevie, Sweden, develops, manufactures and markets sheet metal products and system solutions for the construction sector. the group has 5,000 employees in 30 countries, and reported sales of SEK9.28bn in 2007.

One British pound (GBP) is worth approximately 1.28 euros (EUR). One British pound (GBP) is worth approximately 11.97 Swedish kronor (SEK).

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Business Services Industry

Sweden's Lindab International AB acquires Slovakian building components manufacturer Sipog Group

Nordic Business Report, May 7, 2008

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