Hydroscand Norway has entered into a lease agreement for a larger facility, of over 2,000 m2, for production and store at Mongstad north of Bergen. This is part of our investment in the Energy segment, and will give us a strategic presence at the largest HUB for oil/gas in Norway.
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Hydroscand, a leading solutions provider of hoses, fittings and related products and services, has signed an agreement to acquire 100% of the shares in Mandal Slangeservice, a supplier of equipment and services within hydraulics, pneumatics, hoses, filters, and other products based in Mandal, Norway.
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Hydroscand France has signed an agreement to acquire 100% of the shares in Pathel Industrie SAS, with subsidiaries in France, UK and Spain. Pathel Industrie is headquartered in Lyon, France.
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As of today, Hydroscand Group AB has acquired 100% of the shares in Anderstorp Hydraulik AB, one of Sweden's leading companies in hydraulic systems and maintenance. The company has a turnover of approximately SEK 75 million, with good profitability. Its head office is in Anderstorp, Sweden.
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Our deepest support and thoughts are with the citizens of Ukraine.
On February 24, 2022, the European Council decided on a set of sanctions as a result of the Russian actions towards Ukraine. These sanctions include dual-use goods, which affects Hydroscand Group.
