Systemair has signed an agreement to acquire 70% of the shares in the Turkish company HSK. HSK is Turkey's leading manufacturer of air handling units and in 2011 the company had a turnover of SEK 160 million. The company has two production facilities on the outskirts of Istanbul, as well as sales offices in Azerbaijan, Georgia, Turkmenistan, Dubai and Iraq.
"Turkey is an interesting market with great potential and Turkish construction companies are also very active in surrounding markets. We see good synergy with our newly acquired Italian chiller factory.", says Svein Nilsen, Marketing Director for Systemair"
"We will initially acquire 70% and have a binding option to acquire the remaining 30% within a period of four years. The takeover is expected to take place during May this year.", says Gerald Engström, President and CEO for Systemair.
