PMC Cylinders acquires PMC Hydraulics cylinder operations in Nastola/Finland and incorporates new subsidiary for fork lift attachments in Vaggeryd

2016-12-12

PMC Cylinders will during first quarter 2017 acquire the cylinders operations at PMC Hydraulics Oy in Nastola. This transaction will further strengthen our cylinder activities within Dacke Industri, in our important mission to provide premium products and service to our customers.

Nastola operations, with sales at 4.8 MEUR and approx. 30 employees, will be named PMC Cylinders Oy. All present employees in Nastola will be offered continued employment in the new company and Peter Blomqvist will be appointed as Managing Director.

During Q1/2017 we will also incorporate a new company for the existing activities in Vaggeryd within design, manufacturing and sales of fork lift attachments (dept "Welding"). We consider that the present operations, with sales at 30 MSEK, have substantial opportunities on a growing market.

The new company will be named PMC Attachment AB, with a strong focus on developing and enlarging our product range and sales activities. All present employees in Vaggeryd within this segment will be offered employment in the new company and Per Idsäter will be appointed as Managing Director. In addition, our operations will be further supported by recruitment for new positions within design, sales and logistics, as well as by investments in equipment and lifting devices for the manufacturing process.

Håkan Säberg, MD at PMC Cylinders (+46705842153) and I (+46702984667) are available to answer any questions on the above.

Dacke Industri AB

Börje Vernet

CEO