The Intra Group is acquired by Teka
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One of the world-leading manufacturers of kitchen sinks and appliances, Teka is the new owner of the Intra Group based in Malvik, Norway. On 29 November 2007 Teka Industrial S.A acquired all the shares in Intra Holding AS. Through this acquisition Teka increases it presence in the Scandinavian market. "This gives Intra a unique opportunity to reach a much bigger market, increase sales, improve purchasing power and facilitate new investments", announces Intra Holding chairman Agnar Tegnander.
The board and management of Intra are positive about the takeover. "This will advance the whole group. Teka is a group that wants to further develop what Intra has built in the 60 years the company has existed," says Agnar Tegnander.
Teka manufactures similar products to Intra, but covers other geographical markets and has a much bigger presence in all countries outside Scandinavia. Together the companies can increase their market access and products portfolio. Intra improves its purchasing power due to the increased size and gains greater access to capital for investments. Teka achieves presence in the Scandinavian market through this acquisition.
Intra Holding AS, owner of the production companies Intra AS in Norway, Intra Mölntorp in Sweden and Juvél AS in Denmark, and the sales offices Intra Polska in Poland and Intra GmbH in Germany, is Scandinavia’s leading manufacturer of kitchen sinks, sanitary products, mini kitchens and hand washbasins in stainless steel.
The change of owners will not result in any dramatic changes for The Intra Group. Business will continue as before. Egil Tegnander continues as the CEO after the takeover. Teka will later on determine a long-term strategy befitting the market and the company’s position in the new owner structure.
About Intra
The Intra Group is Scandinavia’s leading manufacturer of kitchen sinks, washbasins for bath, sanitary products and mini kitchen for stainless steel. The Intra products are sold all over the world. The biggest export markets are the USA, Germany and Finland. The focus is on modern design and the possibilities offered by stainless steel through new and advanced deep-drawing technology. The Intra-Group has 229 employees and a turnover of € 40 million.
About Teka
Teka is a worldwide producer of domestic appliances for kitchen and bathroom, beverage and gas containers and electronics with production facilities and sales offices located across the world. Teka is one of the leading sink and built-in appliance brands in the kitchen industry, manufacturing high quality home appliances, commercial equipment and kitchen sinks. Teka employees 5,200 people and generates a turnover of € 1.2 billion.
For more information, visit www.teka.com
Contact persons:
Intra: Egil Tegnander tlf: +47 73 98 01 00
Teka: Johan van der Werf tlf: +31 23 5656 470
