Lloyd Electric & Engineering Ltd has entered into an agreement with Lindab sro of the Czech Republic for the acquisition of an industrial shed, for €0.8 million, in a bid to expand its production base in Europe.
The acquisition has been made through its wholly owned subsidiary Janka Engineering sro, which has executed a purchase agreement with Lindab sro. for the acquisition of the industrial shed, the company said a stock market filing.
The acquisition includes a shed, spread over an area of approximately 7,092 sq m, along with its parts and appurtenances, including heating systems, compressors and other allied equipments located at Radotin, Prague, Czech Republic.
The acquisition is a major step in company's strategy towards expansion of its operations in Prague, Czech Republic, the company said.
Lindab manufactures ventilation products, including duct systems with accessories, as well as solutions for ventilation, heating and cooling for a sustainable indoor climate.
With nearly 50 years of experience with around 50,000 reference buildings totalling 50,000,000 sqm of built area, the company is the preferred partner for industrial buildings.
The company also manufactures components in sheet metal for roof drainage, steel profiles for wall, roof and bearing structures, as well as garage and industrial doors.
Lindab is an international group engaged in the development, manufacture, marketing and distribution of products and system solutions primarily in steel for simplified construction and improved indoor climate.
The business is carried out within three business areas, ventilation, building components and buildings. The group had net sales of 6,527 million Swedish kroners in 2010, with a presence in 31 countries and approximately 4,400 employees.