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Press release
28 October 2022, 11:00
Sdiptech acquires Industrial Metal Products Inc in the US
Sdiptech AB (publ) has purchased all assets in Industrial Metal Products Inc (IMP), which specialises in niche products for road maintenance in the United States. IMP is Sdiptech’s first acquisition in the United States and an add-on to Hilltip Oy and its subsidiary Hilltip Inc.
Industrial Metal Products Inc, located in Fort Wayne Indiana, is a reputable player on the US-market in the design and manufacturing of niche products and equipment adapted for pickup trucks. The people, products, supply chain and the manufacturing footprint will become valuable assets for Hilltip’s further expansion in the US.
"IMP is a well-run business and we are excited to welcome the exceptional team to Sdiptech. IMP adds critical capabilities for us to respond to an untapped demand in the US for Hilltip’s products. The acquisition is a great example of how business units in the Sdiptech group are supported to accelerate growth” says Anders Mattson, Head of Business Area Special Infrastructure Solutions at Sdiptech.
The assets of Industrial Metal Products Inc, as part of the Hilltip Group, fits well with Sdiptech's strategic focus on operations and products that contribute to creating more sustainable, efficient and safe societies. The acquisition will have a limited effect on current financials and will be part of Hilltip Group, included in the Special Infrastructure Solutions business area, from October 2022.
For additional information, please contact:
Jakob Holm, CEO, +46 761 61 21 91, jakob.holm@sdiptech.com
Bengt Lejdström, CFO, +46 702 74 22 00, bengt.lejdstrom@sdiptech.com
The information was provided by the above contact persons for publication 28 October 2022 at 11:00 CEST.
Sdiptech’s common shares of series B are traded on Nasdaq Stockholm under the short name SDIP B with ISIN code SE0003756758. Sdiptech’s preferred shares are traded under the short name SDIP PREF with ISIN code SE0006758348.
Further information is available on the company's website: www.sdiptech.se
Sdiptech is a technology group that acquires and develops market-leading niche operations that contribute to creating more sustainable, efficient and safe societies. Sdiptech has approximately SEK 3,200 million in sales and is based in Stockholm.
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