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1st December 2007

Dometic acquires Waeco

The Swedish Dometic Group has acquired the German-based, internationally operating Waeco Group.

Dometic says the move strengthens its position as a global supplier of products for recreation vehicles and pleasure boats. Dometic's turnover after the acquisition will amount to €1,000m and the number of employees will increase to approximately 5800.

Dometic says the move strengthens its position as a global supplier of products for recreation vehicles and pleasure boats. Dometic's turnover after the acquisition will amount to €1,000m and the number of employees will increase to approximately 5800.

'Dometic and Waeco is truly the perfect combination,' said Lars Johansson, president and CEO of Dometic. 'Together we can provide a more complete selection of comfort products to the global leisure market, both to OEMs as well as directly to end-consumers through retailers.'

Not only our product ranges complement each other well, but also our manufacturing, sales and geographic strengths, he added.

Waeco's products include portable cooling boxes for leisure applications, built-in refrigerators for cars and trucks, refrigerators for pleasure boats, air conditioning for recreation vehicles, a wide range of electronic accessories as well as numerous other products. The company's main production facilities are located in China, with smaller production facilities in Germany, Italy and Poland.

Dometic is a world leading supplier of refrigerators, kitchen equipment, windows, doors, sanitation systems and other comfort products to manufacturers of recreation vehicles, ie motorhomes and caravans, as well as larger pleasure boats. It has approximately 20 production facilities around the world.

'The key rationale behind the acquisition is to continue and extend our product range and growth and to create a company that on a global level can be a full range supplier of comfort products to all types of vehicles and boats,' Johansson concluded.

The acquisition has received approval from competition authorities on main markets.