Ferronordic intends to purchase two additional sites in Germany

Booking.com

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

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