G & L Beijer has completed its strategic acquisition of the Italian SCM Frigo group. SCM Frigo designs, develops and builds chillers. The company reports annual sales of approximately SEK 220M with high profitability. The operation has around 70 employees. SCM Frigo is at the forefront of technical development of refrigeration units for new environmentally-friendly solutions.
The collaboration between Beijer Ref and SCM Frigo has started very well. The acquisition has already generated the desired synergy effects with an increased number of orders for SCM Frigo’s products from Beijer Ref’s existing markets. G & L Beijer has initially acquired 51 per cent of the shares in SCM Frigo with an option to acquire the remaining 49 per cent. SCM Frigo included in G & L Beijer’s accounts from 1 January 2011.
Malmö, 3 March 2011
G & L Beijer AB (publ)
For further information, please contact:
Joen Magnusson, Managing Director
G & L Beijer AB
Telephone +46 40-35 89 00
Mobile +46 709-26 50 91