Lindab has entered an agreement to acquire the Belgian ventilation distributor, Airflux, with three sales premises in Belgium, comprising one distribution centre and two unmanned branches. The company has sales of just over SEK 20 m.
Airflux has already been selling Lindab products and is aimed at both the residential and non-residential segments. Airflux`s direct contact with customers and installers, as well as their technical expertise, will benefit the sales of Lindab products. The concept of unmanned branches has been introduced to increase accessibility and flexibility for the customer, and this has been very well received in Belgium. Lindab plans to develop and extend this distribution concept further.
President and CEO David Brodetsky comments: "Being close to the customer is central to our business model, which is why we put great emphasis on expanding distribution. The concept of unmanned branches that are open 24/7 has proven successful in Belgium where customers now can plan their visits to avoid traffic jams in rush hour. It is a cost effective way of expanding our presence and we will therefore be introducing it into other selected markets as well."
The information here is that which Lindab International AB has willingly chosen to make public or that which it is obliged to make public according to the Swedish Securities Market Act and/or the Financial Instruments Trading Act.
David Brodetsky, CEO
Mobile: +46 (0)73 274 5418
Nils-Johan Andersson, Business Area Manager, Ventilation
Mobile:+46 (0)70 668 5075
Lindab - A Ventilation and Building Products company:
Lindab develops, manufactures, markets and distributes products and system solutions primarily in steel for simplified construction and improved indoor climate.
The business is carried out within three business areas, Ventilation, Building Components and Building Systems. The products are characterised by their high
quality, ease of assembly, energy efficiency, consideration towards the environment, and are delivered with high levels of service. Altogether, this increases customer value.
The Group had net sales of SEK 6,527 m in 2010, was established in 31 countries and had approximately 4,400 employees. The main market is non-residential construction, which accounts for 80 percent of sales, while residential accounts for
20 percent of sales. During 2010, the Nordic market accounted for 45 percent, CEE/CIS (Central and Eastern Europe as well as other former Soviet states) for 22 percent, Western Europe for 29 percent and other markets for 4 percent of total sales.
The share is listed on the Nasdaq OMX Nordic Exchange, Stockholm, Mid Cap, under the ticker symbol LIAB. The principal shareholders are Ratos, Sjätte AP-fonden and Skandia Liv. For more information visit www.lindabgroup.com.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Lindab International AB via Thomson Reuters ONE