Opcon AB

Opcon, the energy and environment technology Group, to sell off parts of its subsidiary, Lysholm Technologies

Pressmeddelande   •   Feb 15, 2007 10:11 CET

As part of the process of transforming Opcon into a Group focused exclusively on energy and environment technology, Opcon has started the process of selling off parts of its subsidiary, Lysholm Technologies. A declaration of intent has been signed with an American company with the aim of concluding a sale during the first half of 2007.

The main business of Lysholm Technologies is supplying compressors to the aftermarket in the US where the products are used to increase the output of standard engines in cars and boats, thus improving performance.

"The activities of Lysholm Technologies are not strategically compatible with Opcon's new focus on energy and environment technology. We have previously announced that we would be making an assessment of each subsidiary's role in terms of the new strategic development of the Group, and this is now taking place," says Rolf Hasselström, CEO of Opcon.

Lysholm Technologies has suffered major problems with profitability over a number of years. This has had a negative impact of several tens of millions of Swedish krona over the past three years alone. The technology and knowledge at Lysholm Technologies will have much better opportunities for development with a new owner that has a sharper focus on the US aftermarket.

"The sale means a further strengthening of our focus on core competence and the investment we are making in products and systems for more efficient use of energy and eco-friendly, resource-efficient solutions, including our efforts within our new business area, Renewable Energy, where our subsidiary, Opcon Energy Systems, is working hard selling systems that generate electricity from surplus heating," explains Rolf Hasselström.