Tuesday, 20 November, 2007

OEM International AB acquires Klitsø Processtechnic A/S

OEM International acquires all shares in Klitsø Processtechnic A/S in Denmark from 10 December 2007. Klitsø Processtechnic A/S sells valves and pneumatics, substantially to industrial customer in Denmark. The turnover 2007 is amounted to approximately 70 MDKR. 2006 the turnover was 63 MDKR, the profit before tax 4,7 MDKR and had 24 employees.

- Klitsø 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, says Jörgen Zahlin, CEO OEM International.

The acquisition cost is amounted to approximately 30 MDKR, plus maximally 6 MDKR in supplementary purchase price.

The acquisition will not have any effect on the Group result for the present year.

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