Markaryd, Sweden, June 27, 2016.
The agreement between NIBE Industrier AB (publ) (NIBE) and LSB Industries (LSB) on sale and transfer of the Climate Control Group (CCG) to NIBE has been cleared by the U.S. Fedral Trade Commission in accordance with the United States Hart-Scott-Rodino Antitrust Improvements Act. Closing of the transaction, which includes 100 % of the shares in CCG, is estimated to take place within approx. a week.
NIBE is an international heating technology company. Operations are conducted within three business areas – NIBE Climate Solutions, NIBE Element and NIBE Stoves – all of which work according to a single vision of creating world-class solutions in sustainable energy. The group has approximately 11,000 employees and operations in Europe, North America, Asia and Australia. Each business area has its own operational management with responsibility for profits. In 2015, net sales amounted to SEK 13,243 million (USD 1,570 million1), EBITDA to SEK 2,180 million (USD 258 million) and EBIT to SEK 1,700 million (USD 202 million) respectively. NIBE has been listed under the name NIBE Industrier on Nasdaq Stockholm, Large Cap list, since 1997, with a secondary listing on the SIX Swiss Exchange since 2011.
About LSB Industries
LSB is a US-based manufacturing company. LSB’s principal business activities consist of the manufacture and sale of chemical products for the agricultural, mining, and industrial markets, and the manufacture and sale of commercial and residential climate control products, such as water source and geothermal heat pumps, hydronic fan coils, modular chillers, large custom air handlers and make-up air units. LSB has been listed since 1969 with its shares today being traded on NYSE (NYSE: LXU).
NIBE – Contact Information:
Gerteric Lindquist, Managing Director and CEO NIBE Industrier AB, Tfn: +46 433-73 076
Hans Backman CFO NIBE Industrier AB, Tfn: +46 433-27 34 69
Christel Fritiofsson, IR-contact, NIBE Industrier AB, Tfn: +46 433-73 078
The information provided in this press release is such that NIBE is required to disclose pursuant to the Swedish Financial Instruments Trading Act (1991:980) and/or the Swedish Securities Markets Act (2007:528). This information was published at 08.00 CET on June 27, 2016.
Cautionary Statement Regarding Forward-Looking Information
This news release* includes certain information that may constitute "forward-looking information" under applicable securities legislation. Forward-looking information includes, but is not limited to, information with respect to the completion of the transaction, including the receipt of regulatory and other third party approvals, the financial performance of CCG, the timing of the planned rights issue of NIBE, and the combination of CCG’s business with NIBE's business. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forwardlooking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. NIBE disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.