Columbia, MO, October 10, 2007 --(PR.com
)-- Fläkt Woods Group and SEMCO Incorporated announced today the signing of an agreement by which SEMCO's shareholders are selling the company to the Fläkt Woods Group headquartered in Zurich, Switzerland.
"Being a member of the Fläkt Woods Group will strengthen our position in our served markets and beyond. This is a very positive step. It reinforces our commitment to provide the market with high quality products, services and solutions that meet the needs of both our customers and the world", said SEMCO Incorporated, President & CEO, William Thurman.
"Like Fläkt Woods, SEMCO is a great company with a tradition of innovation, new product development, and successful business growth. We are very pleased to welcome the talents of SEMCO to join the Fläkt Woods Group, and view this as a significant step for us in North America within the Air Climate for Buildings. To date, the Group's activities in the US have been focused on fans through the American Fan Company, and the acquisition of SEMCO is a perfect illustration of the new development strategy we intend to pursue with our new owners to extend our portfolio of Air Climate and Air Movement solutions worldwide"; said Didier Forget, CEO of Fläkt Woods.
Final sale of the business is expected to take place shortly after some work to prepare the transfer of ownership. The price of the transaction is not communicated.
About SEMCO Incorporated
SEMCO Incorporated of Columbia, MO, USA is a nationally recognized leader in providing high quality products and service for ventilation and air treatment. The company is the primary market innovator of energy recovery systems using desiccant wheels that increase energy efficiency, improve indoor air quality and reduce operating costs. The company is also a leading supplier of round and oval duct systems, which are recognized for their high quality, field labor saving advantages and overall service to the industry.
SEMCO currently employs approximately 400 employees in eight (8) U.S. locations, and reports annual sales of approximately $65M. Additional information on SEMCO Incorporated can be found at www.semcoinc.com.
About Fläkt Woods Group
Fläkt Woods Group is a leading player in energy-efficient Air Climate for buildings and Air Movement for Industry with a unique range of products for ventilation, air treatment and air diffusion improving indoor air quality and operating costs.
Fläkt Woods is one of the largest air handling systems and duct suppliers in Europe and has strong positions in selected countries in Middle East, Asia and Australia.
The Fläkt Woods group currently employs more than 3,000 people across Europe, Asia, and the US and reports annual sales of approximately $725M in 75 countries with direct presence in 30 countries worldwide.
The Fläkt Woods group was recently acquired by Sagard Private equity Partners, Barclays Private Equity and ICG.
Additional information on Fläkt Woods can be found at www.flaktwoods.com.
For further information, please contact:
Director of Marketing
Tel: +1 573 443 1481
Group Communications Manager
Fläkt Woods Group
Tel: +46 36 193 330