18.05.2010

Zehnder Group takes over Chinese ventilation company

    Gränichen, Switzerland, 18 May 2010 – Zehnder Group, with international operations in the indoor climate sector (radiators and ventilation systems), has taken over Shanghai Nather Air Tech Co. Ltd. This Chinese company develops and markets ventilation components (exhaust fans, heat recovery units) for residential buildings. Shanghai Nather Air Tech Co. Ltd. is a market leader in the rapidly growing market for energyefficient solutions for a healthy indoor climate. With the takeover of Shanghai Nather Air Tech Co. Ltd. Zehnder Group has taken an important step to further enhance its market position in the rapidly growing market for energy-efficient solutions for a healthy indoor climate. The company was founded in 2005 and has some 25 employees. In 2009 Shanghai Nather Air Tech Co. Ltd. reached sales of just under EUR 2 million and was profitable. In a first step Zehnder Group has taken over 51 % of the share capital; the two company founders will remain active in the company as co-owners and managing directors. The acquisition was financed out of Group funds. Both parties to the transaction have agreed not to disclose the purchase price. The transaction is subject to local government approvals.

     

    René Grieder
    Moortalstrasse 1
    5722 Gränichen
    Switzerland

    Chief Financial Officer

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