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Addtech Acquires Finnish Industrial Dampers Firm Sammet.

M2 EQUITYBITES-March 11, 2016-Addtech Acquires Finnish Industrial Dampers Firm Sammet

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11 March 2016 - Swedish industrial group Addtech AB's (STO: ADDTB) Addtech Industrial Process business area has signed an agreement to acquire 100% of the shares outstanding in Finnish industrial dampers provider Sammet Dampers Oy, the company said.

Terms of the deal were not disclosed.

Sammet Dampers is a leading developer and supplier of industrial dampers in Northern Europe. Industrial dampers are used regulating gas flows in various industrial processes.

Addtech said the company will complement its current operations in the business unit Process Technology. Sammet Dampers has 12 employees and sales of around EUR 5 million.

The closing is estimated to take effect in the beginning of April 2016 and to have a marginally positive effect on Addtech's earnings per share during the coming financial year.

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Date:Mar 11, 2016
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