Daetwyler completes Elfa acquisition

ERJ staff report (DS)

Altdorf, Switzerland -- On 29 April 2008, Daetwyler Group completed the previously-announced acquisition of the Swedish ELFA Group held by Industri Kapital, Stockholm. Daetwyler said . ELFA ideally complements the Daetwyler catalogue distributor Distrelec, both with regard to product range as well as market presence. Within the context of the semi-annual reporting 2008, definition and attribution of the final purchase price will be determined in accordance with IFRS.

ELFA is the leading catalogue distributor for industrial electronics and automation in Northern Europe with over 55'000 customers relying on its services. The company markets and distributes more than 70'000 different electronics products from 650 suppliers from all over the world. ELFA has representations as well as shops in Sweden, Norway, Denmark, Finland, Poland and the Baltic states. In Russia and around ten other Eastern European countries, ELFA is represented by resellers. ELFA has 400 employees that generate sales of around CHF 180 million.

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Press release from Daetwyler Group