ÅF acquires Electrical Engineering Consultancy Alteco


For further information:

Per Magnusson, President, ÅF, Industry Division, +46 70 676 64 26
Linda Pålsson, Business Area Manager Energy Projects, ÅF, Industry Division, +46 76 788 85 92

ÅF has acquired Alteco AB with 30 employees in Bollnäs, Stockholm and Mora. Alteco's main business focus is transmission and distribution and its major clients are Svenska Kraftnät, Fortum/Ellevio and Vattenfall.

"The acquisition of Alteco will strengthen our local presence in electric power, and Alteco's dedicated employees and strong customer relationships are a good fit with ÅF's corporate culture," says Per Magnusson, president of ÅF's Industry Division.

Alteco has enjoyed stable growth since its inception in 1994 and has always shown good profitability. In addition to electric power they also provide consulting services in electrical installations, public lighting, telecom networks and industrial automation, along with land and facility planning.

"Together with ÅF, we can offer our clients a more complete range of services, thus making them even more competitive," says Andreas Lundström, Alteco's CEO.  "And our employees will have many opportunities to work on even more interesting projects and assignments."

Alteco was consolidated as per 1 January 2016 and is part of ÅF's Industry Division.

Corporate Communication
ÅF AB (publ)

ÅF is an engineering and consulting company for the energy, industrial and infrastructure markets, creating progress for our clients since 1895. By connecting technologies we provide profitable, innovative and sustainable solutions to shape the future and improve people's lives. Building on our strong base in Europe, our business and clients are found all over the world.

ÅF - Innovation by experience

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ÅF AB via Globenewswire





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