Systemair: Divesting AC business - Redeye

Systemair announced yesterday that the entire air-conditioning business will be divested to Panasonic. Systemair’s AC segment has been struggling with low profitability and the company has decided to focus its resources on the core ventilation business. The price tag of EUR100m is generous, given the modest profit level in the subsidiaries divested. Systemair’s expected capital gain in the transaction is around EUR45m.

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