Systemair acquires in Russia
Systemair has acquired the assets of ventilation equipment distributor LEX in Moscow. Lex has 26 employees and had a turnover of approximately 6 MEUR in 2009.
With this purchase, Systemair strengthens its already firm position on the Russian HVAC market.
Systemair will now be able to offer their Russian distributors even better service then previously by offering them fast deliveries from a local warehouse.
“- We will now increase the availability of some products, those that distributors normally only stock in limited numbers today, and this will have a positive impact on both the sales and market share”, says Systemair’s CEO Gerald Engström.
Systemair in brief
Systemair is a leading ventilation company with operations in 39 countries in Europe, North America, the Middle East, Asia, Africa and Australia. The Company had sales of SEK 3.2 billion in financial 2009/10 and currently employs about 2,300 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 15 percent.
Systemair has well-established operations in growth markets. The Group’s products are marketed under the Systemair, Frico, VEAB and Fantech 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 60 companies
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.