Addtech Components, that markets and sells components and subsystems in mechanics, electromechanics and hydraulics to customers in manufacturing has today signed an agreement to acquire the operations in Danish Hydro Service ApS.
Hydro Service is a technology trading company selling components and subsystems within hydraulics to the Danish industry. The company is a well known supplier to Danish agriculture, off-shore and energy industry as well as manufacturers of special vehicles. Hydro Service has four employees and a revenue of approximately 15 MDKK.
Hydro Service will be a part of the business area Addtech Components and is an excellent complement to the business area’s operations within hydraulics. The operations in Hydro Service will be integrated into the group’s subsidiary Tube Hydraulik A/S and the merged operation will operate under the name Hydro Service A/S.
The closing will take place on 1 January, 2011 and the acquisition is estimated to have a marginally positive effect on Addtech’s earnings per share during the current financial year.