11 Feb 11

Nordic Heat & Vent invest in the East European market

Nordic Heat & Vent has signed an agreement with the Ukrainian company Mario ME LTD.Mario manufactures and markets today, water-based stainless steel towel rails, primarily for the domestic market.

Under the agreement,
•   NH&V are investing in production equipment to increase capacity in Marios existing facility in Litin in Ukraine.
•   NH&V will transfer the knowledge of the production of electric towel warmers to Mario
•   Mario will manufacture electric towel warmers to the NH&V for the Eastern European market
•   Mario will, besides producing the NH&V also serve as distribution centers for NH&V in Eastern Europe.

"It's part of our first steps in building the structure of our investment in Eastern Europe," said Johan Boheman CEO of Nordic Heat & Vent AB. "The second part is the start of a new company in Ukraine"
"It feels good to get a distribution center inside the tariff walls of Eastern Europe, it will significantly facilitate our drive to increase sales in the growing Eastern European markets," said Olli-Pekka Mannermaa Sales and Marketing Manager for Eastern Europe.

04 Jan 10

Nordic Heat & Vent, through its subsidiaries PAX and Dryson, the leading Nordic Group within domestic fans and towel rails, acquires Wösab and thereby enhances its product offering within towel rails and oil filled radiators.

”The acquisition of Wösab strengthens Nordic Heat & Vent’s position within oil-heated radiators and adds scale within research & development, manufacturing and sales. The acquisition also enhances the Group’s position in the do-it-yourself segment in the Nordic region, creating a strong platform for future growth”, Johan Boheman, Group CEO Nordic Heat & Vent, says.
Wösab’s strategic focus will remain, however, being a part of the Nordic Heat & Vent Group, Wösab will have additional resources to expand its product offering with complementary products for the do-it-yourself segment and to continue its expansion in the Nordic and Eastern European markets.

For more information, please contact:
Johan Boheman
Group CEO Nordic Heat & Vent
Phone: +46 70 399 56 16
E-mail: johanb@n-h-v.com

Nordic Heat & Vent is, through its subsidiaries PAX Electro Products, Dryson and Wösab, a leading player on the Nordic and international market for ventilation and heating products. The Nordic Heat & Vent Group develops, manufactures and markets high quality domestic fans, ventilation products, towel rails and oil-heated radiators through wholesalers, specialised stores and do-it-yourself stores. The Group has pro forma sales of SEK 130 million and has its head office in Hälleforsnäs.