BE Group Signs Agreement to Acquire Swedish Metal Processing Firm

BE Group (STO:BEGR) has secured an agreement to acquire the Swedish metal processing group RTS.

The acquisition strengthens BE Group’s production service offering to major engineering customers.

RTS maintains operations in Eskilstuna, Sweden and Rapla, Estonia, as well as a smaller-scale trading operation in Romania.

“This acquisition marks an additional step in BE Group’s strategy to advance its business along the value chain. RTS further complements our production capacity, opening up a new category of assignments in the heavy engineering segment,” says Roger Johansson, President of BE Group.

The company is calculated to generate annual sales of about SEK 90 M and has 35 employees. The acquisition is a combined net asset and equity transaction for which the net debt effect for BE Group is expected to be SEK 20 M.

BE Group is expected to take possession in February. The operations will be consolidated as of the date on which BE Group takes possession and are expected to have a positive effect on the earnings of the Group’s Business Area Sweden in 2011.

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