Positive effects from the acquisition of SCM Frigo which has now been completed

Positive effects from the acquisition of SCM Frigo which has now been
completed

G & L Beijer has completed its strategic acquisition of the Italian SCM
Frigo group. SCM Frigo designs, develops and builds chillers. The
company reports annual sales of approximately SEK 220M with high
profitability. The operation has around 70 employees. SCM Frigo is at
the forefront of technical development of refrigeration units for new
environmentally-friendly solutions.

The collaboration between Beijer Ref and SCM Frigo has started very
well. The acquisition has already generated the desired synergy effects
with an increased number of orders for SCM Frigo's products from Beijer
Ref's existing markets. G & L Beijer has initially acquired 51 per cent
of the shares in SCM Frigo with an option to acquire the remaining 49
per cent. SCM Frigo included in G & L Beijer's accounts from 1 January
2011.

 

Malmö, 3 March 2011
G & L Beijer AB (publ)

For further information, please contact:
Joen Magnusson, Managing Director
G & L Beijer AB
Telephone +46 40-35 89 00
Mobile +46 709-26 50 91