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2021-11-01

Concentric AB: Concentric closes the EMP transaction - on track to beat sales target for electrical products

Pursuant to the announcement on 26 October, 2021, Concentric AB ("Concentric") today announces the completion of the acquisition of Engineered Machined Products, Inc. ("EMP"). With the acquisition of EMP and the structural shift towards a carbon neutral reality in transport systems and support infrastructures, Concentric is now confident it will beat its ambitious target of having 20% of group sales stemming from electrical products by 2025.

David Woolley, CEO of Concentric comments:

"This is the single most important event for Concentric since the listing in June 2011. Whatever the technology, whether fuel cells, battery or hybrid, we can now offer solutions that are universally applicable. The underlying growth in this segment is attractive, in addition we can use our global presence to push EMP's product portfolio while we at the same time complement our offerings to increase the value proposition to existing and new customers."

About EMP

EMP employs over 400 people and has a long track record starting 2006 of developing and commercialising e-pumps and other electrical products and systems. EMP has an extensive in-house electrical engineering team, allowing them to have significant involvement in the design and validation processes. EMP also produces a range of mechanical pumps which will complement Concentric's existing product portfolio and demonstrates an impressive ability to leverage robotics and automation techniques in their manufacturing processes. 

For additional information please contact David Woolley, telephone +44-121-445 6545

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