Apr 10 2008
Husqvarna has signed an agreement to acquire the assets of Meco, Masterpiece Engineering Company, based in Prescott, Arizona, USA. Closing is planned to take place at end of April.
Meco is a leading producer of floor saws for cutting concrete and asphalt, primarily for highway construction and repair. The company has annual sales of approximately USD 9m (approximately SEK 54m) with majority of sales in the US.
The acquisition complements Husqvarna’s product range for the construction industry and reinforces the Group’s leading position in floor saws.
“Meco has a strong market position in the US and Australia, says Anders Ströby, head of Husqvarna Construction Products. Synergies will be achieved with existing operation in terms of production and distribution. In addition, Husqvarna manufactures diamond blades that are consumed by these floor saws, which will contribute to higher sales in this product area”.
Husqvarna is the world’s largest producer of lawn mowers, chainsaws and portable petrol-powered garden equipment such as trimmers and blowers. The Group is also a world leader in diamond tools and cutting equipment for the construction and stone industries. Net sales in 2007 were SEK 33.3 billion and the average number of employees was 16,000.