Hexagon acquires construction laser company in France

Hexagon has entered into an agreement to acquire all outstanding shares of the French group of companies GAMFI International (GAMFI group).

The GAMFI group is a global leading provider of laser tools and instrumentation that operates under different brands such as AGL, QBL and AGATEC. Its own research and development and manufacturing sites span from the USA, Europe and China.

The GAMFI group had a consolidated turnover of 32 MEUR in 2006 and has shown consistent growth, especially in the rotation laser business for several years. The group's head office is in Mesnil le Roi, France. The group employs approximately 350 people.

"The acquisition of the GAMFI group is an important step in the overall growth strategy in the core construction market. The group's worldwide distribution and established portfolio of brands in combination with its state of the art research and development and production capabilities complement our current business model", says Ola Rollén, CEO and President of Hexagon AB.

The GAMFI group will be consolidated as of 1 July 2007 and will immediately contribute to Hexagon's earnings. The deal is conditioned by approval of competition authorities concerned.

"The companies within the GAMFI group will continue to operate largely as independent companies and will continue to focus on servicing their brands and OEM customers", says Ola Rollén.