Nordic Business Report-April 12, 2006-OEM International AB acquires Czech trading company EIG spol.s.r.o.
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The Swedish automation systems and components supplier OEM International AB said on Wednesday (12 April) that it has agreed to acquire Czech industrial automation components trading company EIG spol.s.r.o. (EIG).
The purchase price is EUR3.2m.
EIG has 12 employees and a turnover of approximately SEK25m.
"By the acquisition we establish a new interesting market and this will create possibilities to expand both in the Czech Republic and Slovakia," said Jorgen Zahlin, CEO of OEM International.
EIG will continue operations under the name OEM Automatic.
One euro (EUR) is worth approximately 0.69 British pounds (GBP).
One Swedish krona (SEK) is worth approximately 0.07 British pounds (GBP).
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