Addtech Industrial Process, a business area in the Addtech Group, has today signed an agreement to acquire 90 % of the shares outstanding in Finnchain Oy ("Finnchain").
Finnchain is a market leader in the design, manufacture and delivery of chain-driven sludge conveyor systems that optimize the cleaning of wastewater and desalination of seawater. Primary markets are the Nordics, Southern Europe and Asia.
Finnchain complements Addtech's existing operations which are conducted within the Industrial Process business area and is in line with our focus on sustainability and environmental technology. Finnchain has 20 employees and a turnover of approximately EUR 7 million.
Closing takes place today. The current owner Leena Tuomikoski remains as CEO and minority owner with 10 % of the shares in the company. The acquisition is expected to have a marginally positive impact on Addtech's earnings per share during the current financial year.
Stockholm, July 5, 2021
Addtech AB (publ)
For further information, contact
Niklas Stenberg, President of Addtech AB, +46 702 67 94 99
Claus Nielsen, Business Area Manager, Addtech Industrial Process, +45 20 75 75 30
Addtech is a technical solutions group that provides technological and economic value added in the link between manufacturers and customers. Addtech operates in selected niches in the market for advanced technology products and solutions. Its customers primarily operate in the manufacturing industry and infrastructure. Addtech has about 3,000 employees in more than 140 subsidiaries that operate under their own brands. The Group has annual sales of more than SEK 11 billion. Addtech is listed on Nasdaq Stockholm.
This information was submitted for publication on July 5, 2021 at 1.45 p.m (CET).
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