X-RAY WorX joins Swedish Indutrade group

2. December 2020
On November 27th, Indutrade AB (https://www.indutrade.com/) and X-RAY WorX GmbH signed an agreement with the intent to transfer all the shares of the company X-RAY WorX GmbH to the Swedish Indutrade AB. The agreement was signed after the market closed.

Indutrade AB is an international technology and industrial business group that today consists of more than 200 companies in some 30 countries, mainly in Europe. In a decentralised way, Indutrade aims to provide sustainable profitable growth by developing and acquiring successful companies managed by passionate entrepreneurs. Indutrade’s companies develop, manufacture, and sell components, systems, and services with significant technical content in selected niches. Its value-based culture, where people make the difference, has been the foundation of its success since the start in 1978. Indutrade’s net sales totaled SEK 18.4 billion in 2019 (approx. 1.8 billion EUR), and the share is listed on Nasdaq Stockholm in Sweden.

“With quality, innovation and technical expertise as key elements, X-RAY WorX’s offering, especially towards these high growth applications, is very attractive. We are excited to present another acquisition in Germany and welcome the X-RAY WorX’s team to the Indutrade family”, says Bo Annvik, president and CEO of Indutrade.

X-RAY WorX’s managing directors, Holger Behnsen and Thorsten Fröba, agree: “We are very pleased to join Indutrade and become a member of a strong technology and industrial group. At the same time, their business culture and the decentralised organisation gives us the freedom to run our daily business as usual.”

The closing is expected to be finalised end of December 2020. X-RAY WorX will be included in Indutrade’s Business Area Measurement & Sensor Technology.

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