Addtech Energy acquires Necks Electric Holding AB

Deal Participants:
Acquiring Company: Addtech Energy View Profile Charts Homepage
Target Company: Necks Electric Holding AB View Profile Charts Homepage
Deal Financials:
 
Date:
Announced: Aug 31, 2012

PRESS RELEASE

Addtech Energy, a business area in the Addtech Group, has today signed an agreement to acquire all shares outstanding in Necks Electric Holding AB.

The Necks Electric-group is a supplier of complete systems for power transmission lines. The Necks Electric-group offers the electrical distribution market customized deliveries consisting of cost-efficient own produced products and traded products. The Necks Electric-group has subsidiaries in Sweden and Poland and also smaller operations in Norway and Finland.

The Necks Electric-group complements Addtech's operations in the business unit Energy Supply. The Necks Electric-group has 175 employees and sales of around SEK 220 million.

The closing is estimated to take place in the beginning of November 2012 approval is obtained from the appropriate authorities. The acquisition is estimated to have a marginally positive effect on Addtech's earnings per share during the current financial year.

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Edit History:
Aug 31 '12
This version submitted by Melg8Mike

 

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