The two companies now merging are key players in their respective niches of the global oil and gas safety market. Combined sales were approximately NOK 740 million last year at similar margins (EBITDA margins of 9-10%). The combined company will be a significant international provider of technology, products and services aimed at preventing explosions and fires. The acquisition represents a further implementation of Simtronics' growth and product extension strategy.

The merger of Simtronics and Technor will release considerable synergies in a number of areas such as administration, product development, marketing and sales. The two companies serve largely the same customer groups with products that are highly complementary.

Please see the enclosed document for the complete press release.

Simtronics ASA's acquisition of the activies of Technor AS (.pdf 54kb)

For further information please contact:

Mr Rune Martini, CEO of Simtronics ASA
Phone +47 48 07 80 80

  
Simtronics ASA (Oslo Stock Exchange: SIMTRO) works to prevent disasters from happening. The company is an international supplier of fire and gas safety systems, active fire fighting solutions and fire prevention systems. Simtronics' flame and gas detectors represent the most accurate, reliable and robust safety technology available. The Company's products, solutions and systems are used by the oil and gas industry as well as in shipping, petrochemical and other process industries and in mining. Simtronics has a well established market base in Europe with Norway, France, UK and Germany as the single most important markets. Simtronics' heritage goes back to 1948.