Systemair acquires leading South African manufacturer of Air Handling Units and Packaged Units
Systemair AB (NASDAQ OMX Stockholm: SYSR) has acquired the South African company, Viking Air Conditioning, a market leading manufacturer of air handling units and packaged units.
Viking is located in Spartan in Johannesburg, South Africa. The company produces and sells customized air handling units, with and without integrated cooling, for commercial use, with annual sales in South Africa and in neighbouring countries of approximately SEK 40 million. For more than 25 years Viking has sold market adapted high quality units and is a leading brand in that region. Products are found in all the market leading supermarket chains in the region as well as in a large variety of air conditioning applications. The company has 45 employees in rented premises of 3,000 m2.
"We see great opportunities with the company's market position and products. This acquisition complements us very well and gives us new possibilities in the region", says Systemair's President and CEO Roland Kasper.
For further information contact:
Roland Kasper, CEO, + 46 73 094 40 13, +46 222 440 13
Anders Ulff, CFO, + 46 70 577 40 09, +46 222 440 09
Systemair AB, SE-739 30 Skinnskatteberg, Sweden, +46 222 440 00, www.systemair.com
Systemair in brief
Systemair is a leading ventilation company with operations in 50 countries in Europe, North- and South America, the Middle East, Asia and Africa. The Company had sales of SEK 6.9 billion in financial year 2016/17 and currently employs about 5,200 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 10 percent.
Systemair has well-established operations in growth markets. The Group's products are marketed under the Systemair, Frico, Fantech and Menerga 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 70 companies.