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2014-07-30

Beijer Ref AB: Acquisition of SCM Frigo strengthens the transition to environment-friendly refrigeration technology

The Swedish refrigeration group, Beijer Ref AB, is acquiring the
remaining 49 per cent of the shares in the Italian SCM Frigo Group, a
leading manufacturer in Europe of refrigeration units based on
environment-friendly carbon dioxide technology. SCM Frigo,
established in 1979, exports around 85 per cent of its products and
has a strong market position within the rapidly expanding segment for
environment-friendly refrigeration technology. The company reports
sales of approximately SEK 240M and has 90 employees.

"Beijer Ref acquired 51 per cent of SCM Frigo in 2011 as it is one of
the European companies which most successfully drives the transition
to environment-friendly solutions within the refrigeration industry.
The company's development has since been so positive that our Group
now elects to bring forward the option to acquire the remaining
portion, says Per Bertland, CEO of Beijer Ref. 'With its unique
technical competence within, for example, trans-critical carbon
dioxide based refrigeration systems, SCM Frigo is included as an
important part in Beijer Ref's future strategy".

SCM Frigo supplements Beijer Ref's other product portfolio with
standard products as well as customer-adapted solutions with the
market's most up to date environmental technology. This is expected
to strengthen the Group's competitiveness. SCM Frigo's company
management will continue to work in the company.

The acquisition is expected to have a positive effect on Beijer Ref's
net result as early as 2014. SCM Frigo, which since 2011 has been
consolidated in accordance with the acquisition method, will be
included as fully consolidated without a minority share in Beijer
Ref's accounts from Q3 2014.

Malmö, 30 July 2014
Beijer Ref AB (publ)

For further information, please contact:
Per Bertland, CEO
Telephone +46 40-35 89 00
Mobile +46 705-98 13 73

or
Jonas Lindqvist, CFO
Telephone +46 40-35 89 00
Mobile +46 705-90 89 04

Beijer Ref is a technology-oriented trading Group which, through
added-value products, offers competitive solutions for its customers
within refrigeration and climate control.

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http://news.cision.com/beijer-ref-ab/r/acquisition-of-scm-frigo-strength...
http://mb.cision.com/Main/1860/9622082/270653.pdf

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