PSI Group ASA and the owners of Sydetikett AB have today signed an agreement for the acquisition of all shares in Sydetikett AB for MSEK 40.
MSEK 30 is paid today and MSEK 10 will be paid 1 March 2015.
Sydetikett AB is one of Sweden's largest and well run digital label printing facility with a particularly modern machinery and a solid customer base.
The company, with 23 employees, had a turnover of MSEK 30.1 in the first half 2013 with an EBT of MSEK 3.5.
The transaction was completed today.
The acquisition complements PSI Group ASA's existing commercial printing facilities and as a result PSI will be a dominant player in labels aimed at retail and industry.
«PSI Group ASA already has three modern commercial printing facilities in Mölndal, Stange and Rælingen, and sells labels for approximately MNOK 90 in the Norwegian and Swedish markets. This transaction will be lifting label division's turnover to about MNOK 150." says CEO of PSI Group ASA, Jørgen Waaler.
"In addition, we expect significant synergies when these four companies begin to coordinate sales / marketing, machinery / investment and operating costs in a focused product area, PSI Label Solutions, within our business area Retail Solutions" concludes Waaler.
For further information, please contact:
Jørgen Waaler, CEO PSI Group ASA, Phone: +47 9059 0010
About PSI Group
PSI Group is a leading global provider of the market's most reliable cash handling solutions and the leading systems integrator of retail technology solutions in Norway and Sweden. PSI Group is headquartered in Rælingen (Norway) and has about 320 employees in Scandinavia and Europe. The company is listed on the Oslo Stock Exchange.
For further information: www.psigroup.no
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.