1/20/2010
Indutrade Group acquires Fastener Distributor Techno Skruv
Swedish industrial products group Indutrade AB acquired all shares of Varnamo-based fastener distributor Techno Skruv AB.
Founded in 1993, Techno Skruv supplies standard and special fasteners and fittings to Swedish industry with annual sales of SEK 70 million (US$9.7m/Euro 6.9m).
Its customers are in engineering, energy and the vehicle industries. The company will be part of Indutrade’s Industrial Components division, which had net sales of SEK 1,401 million (US$194.9m/Euro138.5m) in 2008.
Other companies in the same division include Colly in Sweden and Finland, and Finnish construction fastener suppliers, Kinnike-Kolmio OY and Vipmek OY.
Indutrade traces its history to 1978 and is now based in Kista, Sweden. Johnny Alvarsson has been president/CEO since 2004.
Indutrade has three other divisions – Engineering & Equipment, Flow Technology, and Special Products. Group companies include both manufacturers and distributors.
Total 2008 Group sales were SEK 6,778 million (US$943.1m/Euro670m), delivering net profit of SEK 510 million (US$70.9m). ©2010 GlobalFastenerNews.com and Fastener + Fixing
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