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B&B TOOLS AB (STO:BERGB) B&B TOOLS, through its subsidiary TOOLS Momentum AB, has acquired 100 percent of the shares in Göteborgs Lindareverkstad AB ("GLVAB"). GLVAB is a complete service company in electromechanical manufacturing, repairs and sales for the industrial sector and public administration in Gothenburg and the surrounding area. GLVAB has annual revenue of approximately MSEK 10 and six employees.
GLVAB will become a subsidiary of the Rörick Group, which was acquired by TOOLS Momentum in August 2008.
"The Rörick Group comprises well-established companies with high levels of expertise and competitive offerings in an extremely interesting market," says Johan Falk, Executive Vice President of B&B TOOLS. "Through the acquisition of GLVAB, we will now further strengthen our offering in western Sweden by adding a well-established and successful business and excellent opportunities for further development of operations."
Closing is expected to occur at the beginning of November 2008. The acquisition is expected to have a marginally positive effect on B&B TOOLS' earnings per share during the current financial year.
Stockholm, 29 October 2008
B&B TOOLS AB (publ)
For further information, contact: Johan Falk, Executive Vice President, B&B TOOLS AB, telephone +46 8 660 10 30 Mats Karlqvist, Vice President - Investor Relations, B&B TOOLS AB, telephone +46 70 660 31 32
B&B TOOLS provides the industrial and construction sectors in northern Europe with industrial consumables, industrial components and related services. The Group currently has annual revenue of approximately SEK 10 billion and about 3,300 employees.
This information is disclosed in accordance with the Securities Markets Act, the Financial Instruments Trading Act or demands made in the exchange rules.
This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
