Vaahto Group to Sell the HVAC Business to Kavika Oy
VAAHTO GROUP PLC OYJ PRESS RELEASE 01.02.2010 at 15.30
VAAHTO GROUP TO SELL THE HVAC BUSINESS TO KAVIKA OY
Vaahto Ltd., a wholly owned subsidiary of Vaahto Group Plc Oyj, and Kavika Oy have February 1, 2010 signed an agreement concerning the purchase of Vaahto Group’s HVAC business. The transaction will not have a material impact on Vaahto Group’s net sales or operating profit for fiscal period 2009-2010.
The HVAC unit of Vaahto Group designs and manufactures HVAC products for several companies and resellers. The product line includes different kinds of floor basins, drains and gratings made of stainless steel. An essential result of development work is the Mud Mouth (Kurasyöppö) floor basin, which has been designed for sanitation of houses and different plants in cooperation with the VTT, Technical Research Centre of Finland.
The business trade complements wide HVAC product supply of Kavika Oy also to households. Kavika Oy is known as expert of stainless steel in the markets of ship, hospital, professional kitchen as well as HVAC. The clientele will now expand and the target is to start the export of Mud Mouth (Kurasyöppö) floor basins to Scandinavia during the spring 2010.
Lahti, February 1,2010
VAAHTO GROUP PLC OYJ
CEO, Vaahto Group Plc Oyj
tel. +358 50 466 1470
Vaahto Group is globally operating high technology company serving process industry in the fields of pulp and paper machinery and process machinery.