Swedish Addtech acquires Norwegian Itek AS

Addtech Industrial Process, a business area of the Addtech Group, has signed an agreement to acquire all shares outstanding in Itek AS. Itek is a leading supplier in Norway of energy efficient solutions and systems for clean air, process cooling and dust collection.
Itek will complement Addtech’s current operations in the business unit Process Technology. The company has 13 employees and sales of around NOK60 million.
The closing will take place today and the acquisition is estimated to have a marginally positive effect on Addtech’s earnings per share during the current financial year.