Firefly: Firefly buys Omniguard ® flame detectors from Meggitt Inc (PR Newswire)
Firefly AB today June 14, 2013 signed a contract with Meggitt Inc. in the United States for the acquisition of Omniguard ® flame detectors. The purchase means that Firefly takes over product ownership, development, production, sales and after sales of Omniguard ® flame detectors. Firefly will start delivering Omniguard ® flame detectors from 17th June 2013.
FIREFLY BUY OMNIGUARD FLAMDETEKTORSERIEN FROM MEGGITT INC.
Firefly AB June 14, 2013 signed a contract with Meggitt Inc. in the United States for the acquisition of Omniguard ® flamdetektorserien. The purchase means that Firefly takes over product ownership, development, production, sales and after sales of Omniguard ® flame detectors. Firefly will start delivering Omniguard ® flame detectors from 17th June 2013.
The deal is of strategic importance for the long term strengthen Firefly’s market position. Through the acquisition, Firefly to expand its customer and application base and synergies with other operations within the business areas: Industrial Applications and Infrastructure Systems.
The acquisition is financed through existing cash resources and raising a three-year bank financing. Omniguard ® flame detectors are calculated in the current situation to bring about 15% to Firefly’s full-year sales and already this year make a positive contribution to the company’s operating profit and earnings per share.
Stockholm June 14, 2013
FIREFLY AB (publ)
Firefly is a Swedish world leading fire safety company that develops, manufactures and sells high-tech system, which detects and minimizes the risk of fires and dust explosions. The company has 40 years experience in supplying systems for leading process industries.
Firefly has two business areas:
The business area Industrial applications include customized system, which monitors industrial manufacturing processes, including woodworking, tissue, food, biofuels and processes in thermal power plants and wastewater treatment plants.
Business Area Infrastructure systems include systems for monitoring infrastructures such as subways, trains, road and cable tunnels.
In 2012 the company had sales of SEK 97 million, of which a large proportion of sales were exported. Firefly had the 2012 final 59 employees and a market capitalization amounted to 62 million. Firefly’s share is listed on NASDAQ OMX First North, and the Company’s Certified Adviser is Remium AB. President of Firefly is Lennart Jansson.
About Meggitt PLC
With headquarters in the UK, Meggitt PLC is an international group operating in North America, Europe and Asia. Known for its specialized engineering for extreme environments, Meggitt is a world leader in aerospace, defense and energy and has nearly 11,000 employees in more than 40 production facilities and regional offices worldwide.