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Electronics Production | October 17, 2011

Aros Quality acquires shares in AQ Electric AD Bulgaria

Aros Quality Group AB has, 10th of October, acquired 42% of the shares in AQ Electric AD, at the amount of 1,06 MEUR cash.
Since 2003 AQ owns 53% of the shares in the company. AQs total ownership after this acquisition amounts to 95 %.

AQ Electric AD has 350 employees and is manufacturing sheet metal products, electrical power and control equipment.

According to CEO Claes Mellgren the reason for the investment is to further expand the business in Bulgaria. Bulgaria is a fast growing economy that has a lot of technical knowledge and at the same time low cost of operations.

AQ has a number of customers that are interested to increase the cooperation with our Bulgarian operations. AQ has today more than 800 employees in two companies in Bulgaria.

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