Systemair acquires in Canada

Systemair AB (NASDAQ OMX: SYSR) has signed an agreement to acquire Change Air in Canada. The company is a leading manufacturer of ventilation equipment for classrooms in North America.   

Change Air turnover during the 2011 equivalents to SEK 84 million with an operating profit of SEK 12 million and has had a growth of 21% over the past three years. The company with 65 employees has its headquarters and a manufacturing facility in Ontario, Canada. Takeover takes place immediately. 

"The acquisition of Change Air opens up new marketing channels for Systemairs products. This gives us access to 59 sales agents with together approximately 300 sales engineers in North America. These cover 42 states in the United States, and 6 provinces in Canada.", says Gerald Engström, President and CEO for Systemair. 

"This acquisition gives us great opportunities to grow within the commercial market in North America and reinforce our commitment to market the Systemair brand in this segment.", says Gerald Engström, President and CEO for Systemair.

For further information, please contact:
Gerald Engström, CEO, [phone], + 46 70 519 00 01
Anders Ulff, VP Finance and Administration, [phone], [phone]

Systemair AB, 739 30 Skinnskatteberg, 0222-440 00, www.systemair.com

Systemair in brief
Systemair is a leading ventilation company with operations in 44 countries in Europe, North & South America, the Middle East, Asia, Africa and Australia. The Company had sales of SEK 3.47 billion in financial 2010/11 and currently employs about 3,100 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 14 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.

Press release PDF

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Source: Systemair AB via Thomson Reuters ONE

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