Lindab has divested IMP Klima Group to Orange Climate B.V.
Lindab has today signed an agreement to sell IMP Klima Group to Orange Climate B.V., through its Slovenian subsidiary. Orange Climate B.V. will take over the ownership of IMP Klima Group as of today.
Lindab has previously announced the decision to close IMP Klima Group due to profitability issues. The one-time costs were then estimated to SEK 60-70 m, and in addition, impairment of real estate assets could arise. With the divestment to Orange Climate B.V., Lindab’s costs for IMP Klima Group will be less than initially estimated. In Q2, one-time costs of SEK 74 m were reported. The financial impact in Q3 will be limited and after that no further costs are expected.
“We are pleased that we found a better solution for IMP Klima. This setup will save jobs, which was our primary objective when finding a buyer for the business. We will continue to do business with Orange Climate B.V. and we are looking forward to a good cooperation”, says Ola Ringdahl, President & CEO of the Lindab Group.
IMP Klima Group consists of the legal entity in Slovenia “LINDAB, klima sistemi, d.o.o – v likvidaciji” and its subsidiaries. Sales in 2019 was SEK 269 m, reported as part of Business Area Ventilation Systems. IMP Klima Group has 226 employees, of which 212 employees in Slovenia and another 14 employees in Serbia, Montenegro and Bosnia-Herzegovina. On 30 June 2020, Lindab announced the closure of the business, followed by the announcement of a signed letter of intent with Orange Climate B.V. on 21 August 2020 and a preliminary agreement on 13 September 2020.
Orange Climate is the international organisation that delivers sustainable climate systems and consists of three Dutch experts: OC Autarkis, OC Verhulst and OC Waterloo. Orange Climate B.V. is part of the family owned company Van Dorp B.V. Van Dorp B.V. has 1700 employees and a turnover of € 300 million. More information about Orange Climate is available at https://www.orangeclimate.com/
Contact
Ola Ringdahl
President and CEO
E-mail: ola.ringdahl@lindab.com
Phone: +46 (0) 431 850 00
Malin Samuelsson
CFO
E-mail: malin.samuelsson@lindab.com
Phone: +46 (0) 431 850 00
Catharina Paulcén
Corporate Communications
E-mail: catharina.paulcen@lindab.com
Mobile: +46 (0) 701 48 99 65
Lindab in brief
Lindab develops, manufactures, markets and distributes products and system solutions for simplified construction and improved indoor climate. The products are characterised by high quality, ease of assembly, energy efficiency and environmentally friendly design and are delivered with high levels of service. Altogether, this provides greater customer value.
The Group had sales of SEK 9,872 m in 2019 and is established in 31 countries with approximately 5,000 employees. The main market is non-residential construction, which accounts for 80 percent of sales, while residential construction accounts for 20 percent of sales. During 2019, the Nordic region accounted for 43 percent, Western Europe for 35 percent, CEE/CIS (Central and Eastern Europe) for 21 percent and Other markets for 1 percent of total sales.
The share is listed on the Nasdaq Stockholm List, Mid Cap, under the ticker symbol LIAB.