29 March 2007

Addtech acquires Metric Industrial from Pion

Pion announces that it sold all of the shares of the Metric Industrial companies to Addtech AB.

Addtech acquires Metric Industrial from Pion

The four Metric Industrial companies sell components and systems in the field of industrial automation, as well as testing and measurement systems in Finland, Denmark, Sweden and Norway. Annual sales amount to EUR 16 million and the Group has over 30 employees. Finland is currently the biggest market, with good growth potential in all four markets.

In the field of industrial automation, the companies sell components such as sensors, vision systems, industrial computers, industrial ethernet and built-in power management for OEM enterprises and system integrators in basic industries in the Nordic region. In the field of testing and measurement the firms sell testing systems and electronic instruments for installation, verification and monitoring of fiber optic communication networks. In several cases the suppliers are world leaders in their often very narrow product areas.

Addtech AB is a trading company that develops and sells components and systems to industrial companies and the service industry. Annual revenues amount to approximately 400 mio Euro. The Group has approximately 1,300 employees and conducts business in some ten countries.

Addtech consists of approximately 60 operating companies, all of which are striving to be market-leaders within well defined niches. The companies are unified by a corporate culture where entrepeneurship and technical competens are central.
Addtech AB is listed on the Stockholm Stock Exchange.

Pion is the holding company that now owns the remainder of the technical trading division of Geveke, which was acquired by Nimpon in 2003. Pion is a joint venture between Nimbus and Pon Holdings.

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