LMT Group, a group of independent industry companies employing more than 350 people, announces today that it is changing its name to Pronect. With the name change, Pronect is leveling up its ambition to push industry forward and create whole new opportunities for its subsidiaries, customers, and employees.
Bufab acquires Jenny I Waltle GmbH
Bufab has acquired all outstanding shares in the Austrian company Jenny I Waltle GmbH (“Jenny I Waltle”), with annual sales of approximately EUR 19 million.
Jenny I Waltle is a leading distributor and sub-assembly provider of aluminium profile-products and other C-class components with sales in Austria, Switzerland and Germany. It is headquartered in Frastanz, Austria. The company was founded in 1982 and has since 2004 been owned and run by its current Managing Directors, Peter Jenny and Daniel Waltle. Under their leadership, Jenny I Waltle has expanded the business into a supply chain partner to customers across many industries. In the twelve-month period ending August 2021, Jenny I Waltle had 43 employees and sales of approximately EUR 19 million.
“I’m happy that Jenny I Waltle is joining the Bufab Group and is convinced that Jenny I Waltle will help us expand our offering towards our customers and new target clients, fully in line with our concept “Creative Component Solutions”. The acquisition of Jenny I Waltle is a good contribution to our growth journey in Segment West, and we are glad to welcome new “Solutionists” in our Team”, says Jörn Maurer, Bufab Group Director Segment West.
"By joining Bufab, we will be able to continue to improve our customer service, grow our business and strengthen our team in the same way we have for the last decades. It will be business as usual, with the same high ambition level, but now as a part of a globally leading organization. We are pleased to continue as Managing Directors of Jenny I Waltle, and together with the whole Jenny I Waltle team we look forward to the cooperation with Bufab”, says Peter Jenny and Daniel Waltle, the owners.
The acquisition closed on 19 October and will be reported within Bufab's Segment West.
For further information, please contact:
Johan Lindqvist, Acting President and CEO, telephone: +46 370 69 69 00
Marcus Söderberg, CFO, telephone: +46 370 69 69 66
Bufab AB (publ), Corporate Registration Number 556685-6240, is a trading company that offers its customers a full-service solution as Supply Chain Partner for sourcing, quality control and logistics for C-Parts (screws, nuts, etc.). Bufab’s Global Parts ProductivityTM customer offering aims to improve productivity in the customers’ value chain for C-Parts.
Bufab was founded in 1977 in Småland, Sweden and today is an international company with operations in 28 countries. The head office is located in Värnamo, Sweden, and Bufab has about 1,300 employees. Bufab’s net sales for the past 12 months amounted to SEK 5.3 billion and the operating margin was 11.8 percent. The Bufab share is listed on Nasdaq Stockholm, under the ticker “BUFAB”. Please visit www.bufab.com for more information.
Elcowire has entered into an agreement to acquire KME’s Rod and Wire assets and business located in Hettstedt, Germany with 180 employees. For Elcowire this means a doubling the capacity to 300’000MT for Copper Rod and adding a large share of the market with a wide range of capabilities for Wire & Strands solutions.
Bufab has acquired all outstanding shares in the Swedish company Tilka Trading AB (“Tilka”), with annual sales of approximately SEK 50 million.