Thursday, 19 October, 2006

Sale of JMS Systemhydraulik

OEM International has sold its entire holding in JMS Systemhydraulik to Specma Hydraulic AB that is a part of the mixed investment company Investmentbolag AB Latour. JMS Systemhydraulik has 54 employees and a sales shceduled to SEK 150 million in 2006 with a profit of SEK 15 million.

The reason for the sale is that JMS Systemhydraulik is a relatively small player on a large market that is congregating around a few major players.

Specma Hydraulic AB hydraulics sales figures will reach almost SEK 1 billion through the acquisition, for which it will pay SEK 120 million with a capital gain of SEK 80 million. The deal is pursuant to approval from the Swedish Competition Authority.

“The sale gives OEM an additional cash injection which improves our capacity to step up our acquisition rate,” comments OEM International’s CEO Jörgen Zahlin.

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