Aspo Systems Oy, a subsidiary of Aspo Plc, has on 15 January 2002 signed the final agreement covering the purchase of the entire shareholding of Autotank, a Scandinavian supplier of service station equipment and maintenance services, in accordance with Letter of Intent (LOI) signed on 18 October 2001.
The value of the Autotank deal is about EUR 3.9 million. About 2/3 of the purchase price is goodwill. The deal will be financed mainly by funds from Aspo Group's operations during this year.
The net sales of the Autotank Group in 2001 has been estimated at EUR 20 million and the company was profitable. The Group employs 93 people.
The transaction makes Aspo Systems the Baltic market leader in service station payment automation and mainentance services. More detailed information on the transaction was released on 18 October 2001 after the signing of the LOI.
Aspo Systems is a member of the Aspo Group. The Group focuses on logistical support services for industry. Aspo provides services for companies in the energy and process industries in sectors requiring strong technical and logistical know-how. Aspo's net sales in 2000 totalled EUR 107.5 million with about 13 % originating from Aspo Systems. Aspo Systems' net sales in 2000 totalled EUR 14.2 million.
ASPO Plc
Gustav Nyberg
CEO