Addtech Industrial Process, a business area in the Addtech Group, has signed an agreement to acquire 86 % of the shares outstanding in Valutec Group AB.
The acquisition is conditioned on approval from relevant competition authorities and closing is estimated to take place in the beginning of April. All minority shareholders who also work actively in Valutec will remain as minority shareholders with 14% of the shares.
Valutec is one of the world’s leading manufacturers of timber kilns to the forest industry. Valutec has its registered office in Skellefteå, Sweden, with subsidiaries and agents on key markets in Europe and North America. Valutec has sales of around SEK 350 million ($36 million) with an operating profit around SEK 70 million ($7.2 million) and has 45 employees. The consideration for 86% of the shares in Valutec on a cash- and debt- free basis amounts to SEK 620 million ($63.9 million).
