Press release Bilia AB - Continued expansion within the Service Business
11/09/2011 | 08:30am
Continued expansion within the Service Business
Bilia has acquired the remaining shares in a part-owned auto
paint shop in Västerås. The business has an annual turnover
of about SEK 9 million and 9 employees. The date of
possession was 1 October and the purchase consideration for
the remaining shares,
50 per cent, amounted to SEK 3.7 million.
Bilia's existing facility in Kungsbacka, to which a BMW
showroom was recently added, will be expanded with space for
body repairs and service for BMW and space for tyre storage.
The investment is estimated at about SEK 16 million, of which
the property owner will finance about SEK 13 million. The
addition is scheduled to be completed in June of
2012, and annual turnover is expected to increase by about
SEK 12 million.
Bilia recently took over the operation of an auto paint shop
housed in Bilia's facility in
Nacka. The paint shop has an annual turnover of about SEK 10
million and employs
5 painters.
Gothenburg, 9 November 2011
Bilia AB (publ)
For further information, please contact Per Avander, Managing
Director and CEO, or Gunnar Blomkvist, CFO, Bilia AB, tel.
+46 31 709 55 00.
The above information is disclosed in accordance with the
Securities Market Act and/or the Financial
Instruments Trading Act. The information was submitted for
publication on 9 November 2011 at 2:00 p.m.