NORWAY – BEIJER REF AB, the Swedish distribution group of refrigeration systems announced on August 21st the redemption of shares in the Norwegian company BORRESEN COOLTECH A/S – a vendor of wholesale products in the refrigeration market throughout Scandinavia. This purchase is strategic because it will allow the company to proceed with building its profile on the Norwegian market.

What are the characteristics of the Norwegian company BORROSEN COOLTECH A/S? And what are the benefits to be derived by BEIJER REF AB from this acquisition?

BORROSEN COOLTECH A/S was founded in 1968 under the name of BORROSEN A/S. The Norwegian company changed its name to BORROSEN COOLTECH A/S in 2000 following the acquisition of the company COOL TECH A/S.

The company has a turnover estimated at €6.5 million. It employs 20 people. Its headquarters are located in Oslo, the capital of Norway. The headquarters includes facilities for storage, a workshop and distribution services.

The company also has offices in other cities in Norway:

• Stavanger.
  • Bergen.
  • Tromso.

It stores and sells a wide range of refrigeration and air conditioning products include the brands:

• FRASCOLD.
  • LU-VE CONTARDO.
  • BICOLD.
  • ZANOTTI.
  • CAREL.
  • ELIWELL.
  • DANFOSS.
  • JOHNSON CONTROLS.
  • SWEP.

The integration of BORROSEN COOLTECH A / S into the structure of BEIJER REF AB should lead to a reduction of costs.  It will also increase the market share of the Swedish company in Norway. The acquisition will make a positive impact on net annual profit of BEIJER REF AB.