ERIKS Expands its activities in Polan
The ERIKS group has made a further step to strengthen its activities in Poland.
Today the contract has been signed to acquire the activities of
TIM Sp.j.w. with 3 branches in the industrial region of Poznan
Hydro-met s.c., based in Gdynia
with effect from 1 April 2008.
The commercial activities of TIM and Hydro-met comprise the marketing and sales of
sealing components 80%
mechanical power transmissions 10%
maintenance products 10%
to original equipment manufacturers (OEM) as well as to the industrial maintenance market (MRO).
With 18 employees, the companies achieve total annual sales of PLN 6.5 million (approx. EUR 1.8 million).
This acquisition is fully in line with the ERIKS strategy to expand its activities in the growing industrial regions in Poland and to further strengthen its leading market position in Poland for sealing elements.
The operations of both TIM and Hydro-met will be commercially and organisationally integrated as service centres into the existing network of Passerotti sp.z.o.o. as from 1 April 2008
The acquisitions will contribute immediately to the result.
The funds required for these acquisitions will be fully financed from the company´s own resources.
Please refer to our website www.eriks.com for detailed information about the ERIKS group.