acquisition Stålservice AB in Sweden

Aalberts expands network in Scandinavia

Aalberts Industries N.V., with activities in the areas of Industrial Services and Flow Control, has reached agreement with the shareholders of the Swedish company Stålservice AB on the take-over of 100% of the shares. Stålservice has an annual turnover of around EUR 2 million.

This take-over, combined with the J:son Härd company acquired earlier this year, will give Aalberts Industries an important strategic position in the Swedish market. From this newly formed base, Aalberts Industries will be able to substantially expand its market position in Scandinavia. The potential this expansion has for organic growth will be supported by further selective acquisitions in northern Europe.

Stålservice is based in Anderstorp in the industrial heartland of southern Sweden and specialises in high quality vacuum hardening and plasma nitriding of components, mainly for the tool and machine industries. The company has modern, well-equipped production facilities. Stålservice has a market share of over 20% in its niche markets and has technologies that supplement those of J:son Härd. With the investments in advanced coating technologies planned for the next few years, the Swedish organisation will be able to open up new niches.

Cooperation with the Material Technology group companies already operating in the same geographical area will considerably enhance the provision of services to the customer. Stålservice and J:son Härd will operate under one joint management team and will work closely with the other service centres in the European network.

The take-over is being financed from the group’s own resources. The figures for Stålservice will be included in the consolidation as of 1 July 2003 and will contribute to growth in earnings per share.