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Addtech AB Acquires Necks Electric Holding AB


Friday, 31 Aug 2012 04:25am EDT 

Addtech AB announced that Addtech Energy, a business area in the Addtech Group, has signed an agreement to acquire all shares outstanding in Necks Electric Holding AB. The Necks Electric-group is a supplier of complete systems for power transmission lines. The Necks Electric-group offers the electrical distribution market customized deliveries consisting of cost-efficient own produced products and traded products. The Necks Electric-group has subsidiaries in Sweden and Poland and also smaller operations in Norway and Finland. The Necks Electric-group complements Addtech's operations in the business unit Energy Supply. The Necks Electric-group has 175 employees and sales of approximately SEK 220 million. The closing is estimated to take place in the beginning of November 2012 after approval is obtained from the appropriate authorities. 

Company Quote

107.25
-0.5 -0.46%
20 Aug 2014