Wednesday, 12 April, 2006

OEM International AB acquires a company in Czech Republic

12th of April 2006 OEM International AB acquires EIG spol.s.r.o. in Czech Republic. The company trades with components for industrial automation. The turnover is appr. 25 SEK million, profit appr. 4,5 SEK million with 12 employees.

EIG was founded in 1990 and represents several of the most important suppliers that the OEM Group represent in Scandinavia. This will create significant synergy effects. The company will change name to OEM Automatic and be a part of that concept. There are plans to broaden the product range and to increase the market penetration. Purchase price amount to 3,2 million Euro whereof 1 million Euro is surplus value. - By the acquisition we establish a new interesting market and this will create possibilities to expand both in Czech Republic and Slovakia, says CEO Jörgen Zahlin. The acquisition will have a positive effect on the Group result for the present year.

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