3/22/2010
NEWS BRIEFS
Indutrade Acquires Techno Skruv
Swedish industrial products group Indutrade AB has acquired all the shares of Varnamo-based fastener distributor Techno Skruv AB, Fastener + Fixing reports.
Founded in 1993, Techno Skruv supplies standard and special fasteners to engineering, energy automotive industry in Sweden, with annual sales of SEK 70 million (6.9 million euros).
The company will be part of Indutrade’s Industrial Components division, which had net sales of SEK 1,401 million (138.5 million euros) in 2008. Other division companies include Finnish construction fastener suppliers Kinnike-Kolmio OY and Vipmek OY.
Indutrade 2008 group sales reached SEK 6.78 billion (670 million euros), delivering net profit of SEK 510 million. ©2010 GlobalFastenerNews and Fastener + Fixing.
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