On 1st January 2006, G & L Beijer AB acquired, through business area Beijer Ref, the remaining 49% of the equity in its Hungarian refrigeration wholesaler Equinoxe SP.
On the acquisition of Elsmark Holding A/S in June 2004, G & L Beijer purchased 51% of the Equinoxe SP shares with an option to acquire the remaining 49%.
Beijer Ref has now decided to exercise this option and has purchased the shares from the current MD and founder of Equinoxe SP.
Equinoxe SP is the market leading refrigeration wholesaler in Hungary; it has an annual turnover of 5.5 million Euros and has shown good profitability. The company has 41 employees in 4 branches in Hungary; it is also responsible for Beijer Ref operations in Romania.
This acquisition will have only a marginal impact on Beijer Ref’s financial performance.
Malmö, 4 January 2006
G & L Beijer AB
For further information, please contact:
Joen Magnusson, Managing Director
Telephone +46 40-35 89 00
Mobile +46 709-26 50 91