Agreement has been reached between FlexLink and TOPS Conveyor Systems, Inc., of Burlington, Ontario, covering the acquisition by FlexLink of all shares, effective May 31. The new company will operate as FlexLink Systems Canada, Inc. TOPS Conveyor Systems employs 30 people and net sales were CDN $ 8.2 million in 2005.
The acquisition follows FlexLinks growth strategy in the production logistics field by increased geographical presence. TOPS is the leading conveyor system supplier in Canada and provides solid knowledge in general application technology and has a well developed customer base. The new company will be the base for continued growth in the Canadian market as the FlexLink activity range will provide access to new customer groups. The acquisition is subject to approval by the authorities
This development is beneficial to our customers as we now can offer direct access to the worldwide FlexLink experience base, to complement the most comprehensive product range in the marketplace. Many of our Canadian customers are operating internationally and they can look forward to state of the art production logistics solutions and consistent global service, says Marcus Verbrugge, Managing Director of TOPS Conveyor Systems.
We are very satisfied to reach this agreement with TOPS, as it provides a solid platform for further growth. Industrial investment is expected to remain on a healthy level in Canada in the coming period and we see growth opportunities in new segments as well as for geographical expansion within Canada, says Mattias Perjos, CEO of FlexLink.
FlexLink is a leading global supplier of automation solutions to assembly and manufacturing industries. Based in Göteborg, Sweden, FlexLink employs 560 people and operates 23 international companies with representatives in 60 countries. In 2005, Group turnover was MSEK 1,154.
Göteborg, May 17, 2006
For further information, please contact:
Johan Wester Mats Nilsson
Director, Business Development Corporate Communication
+46-31-337 3312 +46-31-337 1220
+46-703-15 3312 +46-703-77 1220
FlexLink AB, SE-415 50 Göteborg, Sweden. Phone +46-31-337 3100, Fax +46-31-337 2233
FlexLink is a leading automation expert providing material flow solutions for trouble-free operations to manufacturers and machine builders, all over the world.
FlexLink has been increasing its customers’ production efficiency for almost 40 years, innovating cutting-edge solutions for transportation and handling.
Our aim is clear – we add value to every step of the process, whether it concerns the design, installation of new lines or optimization of existing ones.