Brief: Balco Buys Tbo-Haglinds AB

Balco AB

15/11/2018 20:06

Nov 15 (Reuters) - Balco Group AB  BALCO.ST :
    * BALCO STRENGTHENS ITS POSITION IN SWEDEN THROUGH
ACQUISITION OF
TBO-HAGLINDS AB
    * WITH ACQUISITION, BALCO'S ORDER BACKLOG INCREASES FROM SEK
1.2
BILLION TO APPROXIMATELY SEK 1.4 BILLION
    * ENTERED INTO AN AGREEMENT TO ACQUIRE ALL SHARES IN
TBO-HAGLINDS
AB
    * TBO-HAGLINDS WILL CONTINUE TO BE RUN BY ITS CURRENT
MANAGEMENT
AS AN ENTIRELY INDEPENDENT COMPANY WITHIN BALCO GROUP.
    * CO'S GROWTH WITHIN RENOVATION SEGMENT IS EXPECTED TO
INCREASE BY
APPROXIMATELY 15% MORE THAN BALCO'S UNDERLYING GROWTH WITH
ACQUISITION
    * ACQUISITION IS EXPECTED TO MAKE A POSITIVE CONTRIBUTION OF
SEK
0.5 TO EARNINGS PER SHARE IN 2019
    * PURCHASE PRICE FOR ACQUISITION IS SEK 120 MILLION

Source text for Eikon:  urn:newsml:reuters.com:*:nWkr2PJL2F
Further company coverage:  BALCO.ST 

 ((Reuters.Briefs@thomsonreuters.com;))