Xano Industri said after market close that it has agreed to sell Eslöv Mekaniska Verkstad (EMEK) to Malmö-based investment company Skoparp Invest. The selling price is 12.3 million SEK in cash with additional 3.2 million expected next year contingent on certain goals being met. In 2011 EMEK had sales of 41 million and it has 31 million and 10 million in assets and liabilities respectively. Xano is taking a 6 million kroner capital loss. The company says that the divestment is done to focus on building more synergistic business units and streamline its operations. Emek belongs to Xano’s Precision Technology division.
EME is an engineering industry subcontractor specialising in turning and milling of stainless steel. Products of special quality and precision requirements are shipped for customers in USA, Germany, China and Malaysia in addition to the main customer base in Sweden. Components have been provided for heat exchanges, trucks, gas pumps, stone crushers, digital television sets etc. It has a little more than 20 employees to operate a similar amount of workshop machinery. Historically it has even served telecom industry with various types of metal handling needs.
Skoparp was founded last year and it focuses on workshops serving engineering and construction industry firms. It aims to create a group of companies with different competences aiming thusly to create value for customers and shareholders. Its other acquisitions include casting, forging, welding and assembling solutions provider for railway, processing and mining equipment industries Gjuteriverken AB in Malmö, Svensk Metallteknik Industri i Höör AB (SMTI) which has its own heavy plate designs for railway, construction and engineering industry use and Norrahammars Mekaniska Werkstad AB (NMW Works) from Jönköping which serves truck, mining, hydraulics and other companies with its machinery consisting of CNC-lathes and machining centres
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