9/15/2008 4:09 PM
NIBE Industrier has reached agreement concerning the acquisition of business operations in the Mexican element manufacturing company Alpe SA.
Alpe is headquartered in Mexico City and has production sites in a further three locations in Mexico. The company will form part of the NIBE Element business area.
Alpe is one of Mexico’s leading manufacturers of heating elements with customers both among industrial users and in the volume sector.
Founded in 1973, Alpe today has 300 employees, sales of 12 million US dollars a year and pre-tax profits of approximately 10%.
“We are proceeding with our ‘ripple effect’ strategy of moving into new markets,” says Gerteric Lindquist, CEO of NIBE Industrier. “NIBE Element has established a very strong position for itself in Europe, so it is natural for us to now make serious inroads into the North and Central American market.
“The acquisition of Alpe is a further step in our strategy of being able to offer our global element customers production in Europe, Asia and America. But more than that, Alpe is one of the leading companies in Mexico in the attractive industrial sector. This can provide us with a springboard not only for deliveries to the North American market, but also to those North American companies that have transferred their production to Mexico.
“Alpe also provides NIBE Element with the opportunity to market the entire NIBE Group range in Mexico and neighbouring countries. This includes, of course, products from our highly interesting range for the energy sector.”
No changes will be made to the current management team at Alpe. Customary due diligence has already been conducted and Alpe will be consolidated into the NIBE Group with effect from 1 October 2008.
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