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© rob hill dreamstime.com Electronics Production | November 05, 2013

Addtech acquires Valnor AS

Addtech Components, a business area in the Addtech Group, has today signed an agreement to acquire all shares outstanding in Valnor AS.
Valnor is a technology trading company, providing valves and accessories for instrumentation and piping systems. The company represents leading suppliers within its product areas and commands a solid position in the Norwegian market to offshore oil & gas, shipping and onshore process industry.

Valnor will very effectively complement Addtech's operations in the business unit Addtech Components Norway. Valnor has twelve employees and sales of around NOK 50 million.

The closing is estimated to take place in the beginning of December 2013 after approval is obtained from the appropriate authorities. The acquisition is estimated to have a marginally positive effect on Addtech's earnings per share during the current financial year.

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