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Insinööritoimisto Comatec Oy, the parent company of Comatec Group, has, in a transaction on 7 December 2016, purchased the entire share stock of Cadring Group companies Cadring Oy and Cadring Sweden AB, and has acquired a majority holding in Microteam Oy and Polish company Cadring Polska Sp. z o.o., and 50 % of the share stock of Cadring India. The companies acquired have combined net sales of some EUR 7 million and employ more than 130 people.
Through this transaction Comatec Group is strengthening its knowhow especially in the comprehensive design of mobile machinery, industrial production systems and commercial vehicles. Taken as a whole, the acquisition is a major element in the growth and international expansion of Comatec Group in accordance with its strategy. As a result of this transaction Comatec Group net sales will rise to EUR 35 million in 2017. The number of employees will increase to 500, with offices in five countries.
Comatec Group’s offering will grow, especially in the design of commercial vehicles and in industrial electronics, and the Group will be able to offer its clients a more comprehensive range of service packages. The transaction strengthens Comatec Group’s knowhow in embedded systems, robotics and software development, opening up broader opportunities for developing IoT technologies and electric vehicles.