Electrolux’s acquisition of Diamant Boart has now been finalized.
Diamant Boart is a world-leading manufacturer and distributor of diamond tools and related equipment for the construction and stone industry. In 2001, the company had sales of approximately SEK 2,500m and about 2,000 employees.
The purchase price is SEK 1,700m on a debt-free basis. The acquisition is expected to increase the Group’s operating income by approximately SEK 200m on an annual basis.
The operation will be part of the Professional Outdoor Products business area and will be included in the Group’s accounts as of July 1, 2002.
The Electrolux Group is the world’s largest producer of powered appliances for kitchen, cleaning and outdoor use, such as refrigerators, washing machines, cookers, vacuum cleaners, chainsaws, lawn mowers, and garden tractors. Every year, customers in more than 150 countries buy more than 55 million Electrolux Group products for both consumer and professional use sold under famous brands such as AEG, Electrolux, Zanussi, Frigidaire, Eureka and Husqvarna. In 2001, Electrolux had sales of SEK 135.8 billion and 87,000 employees.
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