NIBE acquires the Danish company Lubcke Rail A/S

NIBE Industrier AB, through its Danish subsidiary Svend A Nielsen A/S, has signed an agreement for the acquisition of the Danish company Lubcke Rail A/S, located in Bröndby in Copenhagen. Lubcke Rail will become part of the NIBE Element business area.

Lubcke Rail, which has 6 employees, had an annual turnover of approximately 19 MSEK and an operating profit of 2.9 MSEK in 2006. Lubcke Rail is a leading company in Europe in providing systems for heating railway points, that are based on Svend A Nielsen’s unique heating elements for points. In addition to the heating element, the systems consist of different meteorological gauges and computer based control systems for controlling the heating of railway points. This means both a saving in energy and better control of heating to guarantee the function of the railway points in all weather conditions.

“The acquisition is a part of the development of Nibe Elements operations towards an increased share of system products and we expect that, under NIBE’s direction, Lubcke Rail will increase its international expansion together with the group’s other products for railways and other track bound traffic,” says Gerteric Lindquist, NIBE's Chief Executive Officer.

The management, brand and organisation of Lubcke Rail will be unchanged and will continue under the leadership of MD Finn Christensen.

Because due diligence has already been completed Lubcke Rail will become consolidated in NIBE from the 1st June 2007.

For further information, please phone +46 (0)433 - 73 000 or +46 (0)70 – 530 20 71