Addtech Industrial Solutions (STO:ADDTB), a business area in the Addtech Group, has signed an agreement to acquire all shares outstanding in Sittab AB.
Sittab is a niche company that delivers ergonomic solutions to driver seats mainly to construction equipment and buses. The product range includes arm- and headrest, turntables and joystick boxes which contributes to efficient and improved operator comfort. The company has an established distributor network and has own operations in Sweden, the USA and China. The headquarter is in the village of Gustafs, Sweden.
Sittab will very effectively complement Addtech's operations within the business unit Customised Solutions. Sittab has 26 employees and sales of around SEK 65 million.
The closing is estimated to take place in the beginning of October 2013 and the acquisition is estimated to have a marginally positive effect on Addtech's earnings per share during the current financial year.