Brief: NIBE Acquires Italian Company Termotech

Nibe Industrier AB

02/07/2020 11:02

July 2 (Reuters) - Nibe Industrier AB  NIBEb.ST :
    * REG-NIBE ACQUIRES THE ITALIAN COMPANY TERMOTECH
    * NIBE INDUSTRIER AB HAS SIGNED AN AGREEMENT TO ACQUIRE
87.5% OF
SHARES IN ITALIAN COMPANY TERMOTECH S.R.L. AND REMAINING SHARES
WITHIN A FIVE-YEAR PERIOD
    * ACQUISITION ADDS TO OUR PRODUCT PORTFOLIO IN MEASUREMENT
AND
CONTROL AND GIVES US AN ADDITIONAL BRIDGEHEAD IN CRUCIAL ITALIAN
MARKET
    * TERMOTECH SALES IN 2019 AMOUNTED TO ABOUT SEK 50 MILLION
WITH AN
OPERATING MARGIN WELL ABOVE 10%
    * PURCHASE PRICE IS NOT SPECIFIED BECAUSE ACQUIRED BUSINESS
WILL
ONLY CONSTITUTE A SMALL PART OF NIBE GROUP

Source text for Eikon:  ID:nGNE9K1Kd7 
Further company coverage:  NIBEb.ST 

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