Release
                                                         August 22, 2013
 
 
Onninen AS acquires SH Trading AS in Norway
 
In accordance with the contract of sale, signed on August 16, 2013, Onninen AS - the daughter company of Onninen Oy in Norway - acquires all shares of SH Trading AS. A final agreement is subject to Norwegian competition authorities’ approval.
 
SH Trading operates as a supplier of electrical equipment and partner for customers within the marine, oil and gas industries. The company was established in 2002.
 
“This acquisition will position Onninen closer to the end-user market and strengthen our market expertise and flexibility within this segment in Norway”, says Endre Espeseth, Managing Director of Onninen AS.  According to CEO of SH Trading Finn H. Hollevik this provides an improved ability for SH Trading to further strengthen its position as a solid player, as well as enabling to invest in further growth.
 

FURTHER INFORMATION:
Endre Espeseth, Managing Director, Onninen AS, tel. +47 909 27 952
Timo Mänty, CEO, Onninen Oy, tel. +358 204 85 5070
 
 

INFORMATION ABOUT 100-YEAR-OLD ONNINEN:
Onninen provides comprehensive material and information flow solutions to contractors, industry, public organizations, technical product retailers and suppliers. We are a family-owned company and have operated in the industry since 1913. We have 2,800 employees in our Finnish, Swedish, Norwegian, Polish, Russian and Baltic operations. Our net sales for 2012 totalled EUR 1.6 billion. Onninen Norway’s net sales totalled MEUR 300 and it employed 340 persons.
www.onninen.com