Swedish heating products manufacturer NIBE Industrier AB acquires Austrian company KNV Umweltgerechte Energietechnik GmbH
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[January 25, 2008]

Swedish heating products manufacturer NIBE Industrier AB acquires Austrian company KNV Umweltgerechte Energietechnik GmbH

(Nordic Business Report Via Thomson Dialog NewsEdge)
Swedish heating products manufacturer NIBE Industrier AB said on Friday
(25 January) that it has agreed to acquire the Austrian heat pump
company KNV Umweltgerechte Energietechnik GmbH for an undisclosed sum.

The acquisition includes KNV Umweltgerechte Energietechnik's Romanian
subsidiary KNV Pompe de Caldura SRL.

KNV Umweltgerechte Energietechnik, based in Schoerfling am Attersee,
markets and sells heat pumps, floor heating systems and products for
indoor ventilation and solar energy. The company has 18 employees and
an annual turnover of approximately SEK50m.

"Through this acquisition NIBE Heating will achieve a prominent
position on the growing Austrian heat pump market. NIBE will have
access to a successful and very competent actor, and KNV will have
access to an appreciably larger product range. We also intend to make
use of KNV's channel in Romania," said Gerteric Lindquist, CEO of NIBE
Industrier.

NIBE Industrier, headquartered in Markaryd, Sweden, manufactures
heating systems and stoves. The group has 5,100 employees and reported
net sales of SEK4.96bn in 2006. NIBE Industrier is listed on the OMX
Nordic Exchange in Stockholm.

One British pound (GBP) is worth approximately 12.60 Swedish kronor
(SEK).

((Comments on this story may be sent to
nbr.feedback@nordicbusinessreport.com))

Copyright ? 2008 M2 Communications Ltd.

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