As part of its planned expansion into Germany, Ferronordic intends to purchase two additional sites in Magdeburg and Dessau. The sites are operated by Auto-Haas GmbH (“Auto-Haas”), a dealer for Volvo and Renault Trucks, as well as Volvo Cars. The purchase is expected to be made through an acquisition of Auto-Haas. The purchase price is expected to be approx. SEK 36m*. In 2020, Ferronordic expects the acquired sites to generate a revenue of approx. SEK 265m* with an operating margin of 3-4%.
Lars Corneliusson, Ferronordic’s CEO, comments: “We are excited to continue the expansion in Germany,

Source: Ferronordic intends to purchase two additional sites in Germany