Systemair (NASDAQ OMX: SYSR) is expanding its operations to South America and
start a sales company in Santiago, Chile.
We have chosen Chile as the first step in our South American expansion, the
climate is similar to the European and even the line voltage is the same. Growth
in 2010 has been good and construction projects are up and running again.
-"Chile has relatively high energy prices and we are seeing an increasing demand
for energy efficient ventilation products. We estimate that our product range
will have good market potential", says CEO Gerald Engström.
For further information, please contact:
Gerald Engström, CEO, +46 222 440 01, +46 70 519 00 01
Glen Nilsson, CFO, +46 222 440 03, +46 70 654 40 03
Systemair AB, SE-739 30 Skinnskatteberg, Sweden,
+46 222 440 00,www.systemair.com
Note: The information in this press release is information that Systemair AB is
required to disclose in accordance with the Swedish Securities Markets Act
and/or the Swedish Financial Instruments Trading Act. Swedish and English
versions of this information have been submitted for publication at 08.30 am on
1 March 2011.
Systemair in brief
Systemair is a leading ventilation company with operations in 40 countries in
Europe, North America, South America, the Middle East, Asia, Africa and
Australia. The Company had sales of SEK 3.2 billion in financial 2009/10 and
currently employs about 2,500 people. Systemair has reported an operating profit
every year since 1974, when the Company was founded. During the past 15 years,
the Company's growth rate has averaged about 15 percent.
Systemair has well-established operations in growth markets. The Group's
products are marketed under the Systemair, Frico, VEAB and Fantech brands.
Systemair shares have been quoted on the Mid Cap List of the OMX Nordic Exchange
in Stockholm since October 2007. The Group comprises about 60 companies.