June 30, 2006
Grundfos has just signed an agreement to acquire the Swedish producer of customised prefabricated pump pits for the wastewater market Wåge Industri AB.
The acquisition will be retroactively effective from 1 January 2006.
In 2005, Wåge Industri AB had a turnover of SEK 25m and employed 17 people. Grundfos expects that the turnover can be doubled over the next 3 to 4 years.
Grundfos sees the acquisition as part of its increased effort in the wastewater area, where it is essential to be able to offer system solutions.
Group Executive Vice President Søren Ø. Sørensen states:
“Grundfos finds it important to include the product concepts and competencies in the field of system solutions for the wastewater area which Wåge represents. The acquisition of Wåge gives us a strong position in Norway and Sweden in the market for prefabricated pit solutions and thus gives us a springboard for our other activities in these two countries.”
The acquisition of Wåge Industri AB is primarily directed towards customers in the Swedish and Norwegian markets where the company integrated step by step in Grundfos’ activities in Sweden. The estimated size of the market for prefabricated wastewater pits amounts to a little under SEK 240m a year.
I recent years, the Grundfos Group has increased its focus on products for wastewater solutions and is already in the market with its production and sale of pit solutions and a wide range of wastewater pumps.
Wåge Industri AB is located in Töreboda in Southwest Sweden. The company was founded in 1966.
The former owner of Wåge Industri AB will leave the company and General Manager Peter Agneborn, Grundfos AB in Sweden, will assume leadership.
Facts about Grundfos
Grundfos in Sweden employs 62 people and had a total turnover of SEK 325m in 2005.
With its close to 14,000 employees, the Grundfos group is working with development, production and sale of pumps. The Group is represented through its own sales companies in 41 countries and reached a turnover of DKK 13.4bn in 2005.