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Systemair aims for US expansion

Swedish ventilation specialist Systemair is looking to expand within the United States after acquiring the assets of Emerson Ventilation for between $3million to $4million.

The Kansas City based company was formerly part of global giant Emerson Climate Technology and has been manufacturing fans and ventilation materials since the 1890s.

It had a turnover of around $10million last year although it did not make a profit and Systemair believes it can quickly help the operation to become profitable again.

Gerald Engström, chief executive officer of Systemair, said: “When we link it into our systems we think it will break even immediately and be profitable within a year.

“We are very optimistic about this deal. It is a good medium term investment. We will expand and the aim is to double what we are doing within a couple of years.

“This is a good cornerstone for the future. At the moment we are in the domestic and residential field in north America and with this deal we have a good base to build up commericial.

“This business has a $10m turnover and we can use it to do more within the industrial and commercial sector.”

Emerson Ventilation will be integrated with Systemair´s present activities in North America, which operate under the Fantech brand name.

Mr Engström said the strong existing sales network would support both sales of US manufactured products and high quality products from Europe.

He said: “With this acquisition we have a base for our continued concentration on the building up of our commercial product range within North America. We see this move as giving us greater scope to increase our presence in the market.”

In March Systemair, which operates across 38 coutnries through around 50 companies, reported operating profits were up 20 per cent compared with the same quarter last year.

It is continuing to look to expand and Mr Engström said he expected to complete at least two more acquisitions before the end of the year.