ITAB - ITAB Shop Concept has signed a final agreement to acquire Sintek Holding AB in Sweden

ITAB Shop Concept has signed a final agreement to acquire Sintek Holding AB in Sweden

7/2/2007 2:49:00 PM

On June 18 2007, ITAB Shop Concept, with registered office in Jönköping and shares subject to trading on First North, signed a preliminary agreement to acquire Swedish company Sintek Holding AB. The final agreement has now been signed.

Sintek is the leading Swedish supplier of shop fittings for pharmacies. The company has a long and thorough experience of developing products and concepts for the pharmacy industry. Sintek has a net turnover of 50 Msek per year with good profitability and is intended to be coordinated with ITAB’s other businesses in the field. The acquisition will strengthen ITAB’s market position in custom made fittings for the pharmacy business, particularly in Sweden.

The acquisition will be consolidated from July 1st 2007 onward, and is expected to give a positive effect on result per share during 2007.

ITAB Shop Concept supplies complete shop fittings for the food and non-food business. The activities consist of project management, design, development, manufacturing and sales. The concept range includes shop fittings mainly in wood and metal, shop equipment such as checkouts and entrance systems and internally developed products. The yearly turnover in ITAB Shop Concept is approximately SEK 2,200 million SEK per year. The group has 1 300 employees.

Certified adviser of ITAB Shop Concept is Remium AB.

For further information, please contact:
ITAB Shop Concept AB
dCEO Ulf Rostedt
Phone: +46 36 31 73 00
Mobile: 0706-948682

ITAB Shop Concept ASA
Kalle Höglund
Phone: +47 23 23 35 55
Mobile: +47 91 15 59 33
Sida 2(2)
Box 9054, SE-550 09 JÖNKÖPING
Phone: +46 [0]36 31 73 00

Attached file:
Pressrelease 070702