Beijer Ref buys remainder of SCM Frigo

SWEDEN: Refrigeration group, Beijer Ref AB, is acquiring the remaining 49% of the shares in the Italian SCM Frigo Group.

Beijer Ref acquired a majority shareholding in SCM Frigo, a leading European manufacturer of CO2 refrigeration units, in 2011. Established in 1979, SCM Frigo exports around 85% of its products. The company reports sales of approximately €26m and has 90 employees.

“Beijer Ref acquired 51% of SCM Frigo in 2011 as it is one of the European companies which most successfully drives the transition to environment-friendly solutions within the refrigeration industry,” commented Beijer Ref CEO Per Bertland.

“The company’s development has since been so positive that our Group now elects to bring forward the option to acquire the remaining portion. With its unique technical competence within, for example, transcritical carbon dioxide based refrigeration systems, SCM Frigo is included as an important part in Beijer Ref’s future strategy.”

SCM Frigo supplements Beijer Ref’s other product portfolio with standard products as well as customer-adapted solutions with the market’s most up to date environmental technology. This is expected to strengthen the Group’s competitiveness. SCM Frigo’s company management will continue to work in the company.