Note 33

Events after the balance sheet date

On 1 April, ESi Controls Ltd. was acquired in the UK, joining the Power Solutions business area. ESi (Energy Saving Innovative) Controls is ba-sed in the UK and develops and delivers energy-efficient heating control systems and intelligent-building applications. ESi Controls Ltd. generates annual sales of approximately GBP 8 million and has 15 employees.

On 1 April, Hydro-Material Oy was acquired in Finland, joining the Components business area. Hydro-Material delivers hydraulic and cooling systems primarily for the special vehicles and the manufacturing industry market segments. HydroMaterial Oy generates annual sales of approx-imately EUR 5 million and has 5 employees.

On 3 May, IETV Elektroteknik AB was acquired in Sweden, joining the Energy business area. IETV Elektroteknik AB is a knowledge-ba-sed company offering advanced power supply services for railways, hydroelectric power plants and industry. IETV Elektroteknik AB has 38 employees and generates annual sales of approximately SEK 80 million.

On 11 May, AVT Industriteknik AB was acquired in Sweden, joining the Automation business area. AVT designs and manufactures automation solutions primarily targeting the manufacturing, pharmaceutical and auto-motive industries. Its solutions include electrical and mechanical design, programming of PLCs and industrial robots, vision systems, assembly and service. The company has 42 employees and generates annual sales of approximately SEK 70 million.

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