Addtech Energy & Equipment, a business area in the Addtech Group, has today
signed an agreement to acquire all shares outstanding in Elteco AS.
Elteco is a technology trading company active in two main areas, products for
electrical power distribution and products for automation. The company
represents global leading suppliers within these product areas and Elteco
commands a solid position in the Norwegian market in its customer and product
Elteco will become part of the business unit Energy Supply, providing key
products to augment the Addtech Group's sales of electrotechnical products in
the Norwegian market. Elteco has nineteen employees and revenue of approximately
NOK 80 million.
The closing will take place 1 April 2011 after approval is obtained from the
appropriate authorities. The acquisition is estimated to have a marginally
positive effect on Addtech's earnings per share during next fiscal year.
Stockholm, 10 March 2011
Addtech AB (publ)
For further information, contact
Johan Sjö, President, Addtech AB, +46 8 470 49 00
Åke Darfeldt, Business area manager, Addtech Energy & Equipment, +46 708 870 515