FlexLink acquires TOPS Conveyor Systems in Canada

FlexLink AB

Category: TOPS Conveyor Systems | 18/05/2006 - 15:12:10

An agreement has been reached between FlexLink and TOPS Conveyor Systems, Inc., of Burlington, Ontario, covering the acquisition by FlexLink of all shares effective May 31.

FlexLink acquires TOPS Conveyor Systems in Canada.

An agreement has been reached between FlexLink and TOPS Conveyor Systems, Inc., of Burlington, Ontario, covering the acquisition by FlexLink of all shares effective May 31.

The new company will operate as FlexLink Systems Canada, Inc. TOPS Conveyor Systems employs 30 people and net sales were $8.2 million (CAD) in 2005.

The acquisition follows FlexLink's growth strategy in the production logistics field by increased geographical presence. TOPS is the leading conveyor system supplier in Canada and provides solid knowledge in general application technology and has a well developed customer base.

The new company will be the base for continued growth in the Canadian market as the FlexLink activity range will provide access to new customer groups. The acquisition is subject to approval by the authorities.

"This development is beneficial to our customers as we now can offer direct access to the worldwide FlexLink experience base, to complement the most comprehensive product range in the marketplace. Many of our Canadian customers are operating internationally and they can look forward to state of the art production logistics solutions and consistent global service," says Marcus Verbrugge, Managing Director of TOPS Conveyor Systems.

"We are very satisfied to reach this agreement with TOPS, as it provides a solid platform for further growth. Industrial investment is expected to remain on a healthy level in Canada in the coming period and we see growth opportunities in new segments as well as for geographical expansion within Canada," says Mattias Perjos, CEO of FlexLink.

FlexLink is a leading global supplier of automation solutions to assembly and manufacturing industries. Based in Göteborg, Sweden, FlexLink employs 560 people and operates 23 international companies with representatives in 60 countries. In 2005, Group turnover was MSEK 1,154.

Göteborg, May 17, 2006

FlexLink Group