Published—2007 12 18
ITAB Shop Concept (registered seat in Jönköping and trading on First North) has reached an agreement for the acquisition of the Finnish Pan-Oston Oy.
Pan-Oston is one of the leading suppliers of cash desks and entry systems in Finland. The company has significant exports. Although these are principally to Denmark and Russia, Pan-Oston is no stranger to the Swedish market. Primarily in general retail, Pan-Oston has long and substantial experience of product development and marketing in all the above-mentioned countries.
With an annual turnover of SEK 50 million and good profitability, Pan-Oston will be run as an independent company in the ITAB group. However, as regards marketing, it will be coordinated with ITAB’s present Finnish operations. Particularly in Finland and Russia, ITAB’s position as a supplier of complete concepts and solutions is strengthened by the acquisition of Pan-Oston.
The acquisition will be consolidated as of 1 January 2008 and is expected to have a positive effect on profits per share in 2008.
ITAB supplies complete shop interiors for general and trade retailers. The company's operations comprise project management, design, development, manufacture and sales. Besides shop fittings, predominantly in wood and metal, the range of concepts on offer also includes shop equipment (cash desks, entry systems, etc.) and in-house developed products. ITAB Shop Concept has a turnover of around SEK 2.5 billion a year. The group has some 1,300 employees.
ITAB Shop Concept’s certified adviser is Remium AB.
For further information, please contact:
ITAB Shop Concept AB
MD/CEO Jan-Ola Wiréhn
Tel: +46 (0)36 31 73 00
Mobile: +46 (0)705-776076
Press release 071217