SWEDEN – NIBE Industrier AB has, via its subsidiary Backer BHV, signed an agreement to acquire ASKOMA AG in Switzerland. ASKOMA will now become a part of the Backer group within the NIBE Element business area.

ASKOMA has operations in Bützberg, Switzerland and Johor Bahru, Malaysia. The company was founded in 1967 and currently has annual sales of approximately 7.2 million Swiss francs (SEK 55million) with an EBIT-margin above 10%. ASKOMA has 26 employees in Switzerland and 17 employees in Malaysia.

The range of products consists mainly of components and solutions for heating, control and measurement in the energy market. The company also offers a specialized contract manufacturing service for the energy market.

 “The acquisition of ASKOMA will further strengthen the position of NIBE Element as a supplier of solutions in sustainable energy“, says Gerteric Lindquist, Group CEO of NIBE Industrier AB.

“The Malaysian part of ASKOMA will also open up for production within the Group in an additional country in Asia besides our existing plants in China. This is very interesting both from a production as well as a market point of view”.

ASKOMA will be integrated within the NIBE Group as of today.

NIBE is an international heating technology company. Operations are conducted within three business areas – NIBE Energy Systems, NIBE Element and NIBE Stoves – all of which are run according to a single, unified vision of creating world-class solutions in sustainable energy. The Group has over 10,000 employees and operations in Europe, North America, Asia and Australia. Net sales in 2013 totaled SEK 9,834 million and the group’s operating profit (EBIT) was SEK 1,179 million.

NIBE Energy Systems is a market leader for heat pumps in both Europe and the USA and is one of Europe’s largest manufacturers of water heaters and other products used to enhance and improve indoor climate comfort. NIBE Energy Systems’ goal is to supply homes and other buildings with products that provide domestic hot water and help ensure a comfortable indoor climate. The product range comprises both individual heating products and also heating, cooling and heat recovery solutions.

NIBE Element is one of the leading international manufacturers of components and solutions used in measuring, controlling and electric heating applications. NIBE Element’s task is to supply both manufacturers and users with components and systems within these areas.

NIBE Stoves is the European market leader in wood-burning stoves. The business area’s mission statement is to supply the market with attractively designed and value-for-money solid-fuel stoves and chimney systems which are developed and manufactured with genuine concern for the natural environment.