ELTEC becomes part of Beijer Group

Mainz – March 17, 2021 – The Swedish BEIJER GROUP's business entity Westermo, a high-tech company specialized in data communications products for mission-critical systems, has today acquired 100 % of ELTEC Elektronik AG.

Westermo's headquarter is located in Stora Sundby, Sweden. With about 350 employees and sales and support offices around Europe, the USA, Singapore, China and Australia Westermo has specialized in robust and reliable networking solutions for, among others, the transportation market.

BEIJER GROUP is a growing powerhouse of innovators within mission-critical industrial digital technology and IIoT. Since its start-up in 1981, BEIJER GROUP has evolved into a multinational group of complementary business entities with sales over 1.5 billion SEK in 2020. The company is listed on the NASDAQ OMX Nordic Stockholm Small Cap list.

"I am pleased that we today announce this acquisition to the business entity Westermo. BEIJER GROUP provides advanced technology for the rapidly growing digitalization market in an increasingly connected world and this acquisition of ELTEC reinforces our position further" says Per Samuelsson, President and CEO of BEIJER GROUP.

"With the acquisition of ELTEC we widen our offering within smart connections onboard trains and subways and going forward also trams and busses. ELTEC has a strong position among many of the larger European train operators. The need for modern infrastructure in public transports in general will continue to increase and Westermo will for sure play an important role in the digitalization of the European as well as the global train fleet" says Jenny Sjödahl, CEO of Westermo.

"We are very happy to join Westermo and BEIJER GROUP. Westermo's worldwide sales organization will ensure a further global market access and our complementary technologies and competences will create an even stronger offering to the transportation market" says Peter Albert, Managing Director of ELTEC Elektronik AG.