August 16, 2006

Vostermans Ventilation reinforces position through Indolec acquisition

Press release

Vostermans Ventilation B.V. situated in Venlo, Netherlands, has reinforced its position on the international fan market through the acquisition of companion fan manufacturer Indolec B.V. from Zaltbommel.

The financial details of the takeover, effective as of Aug 14, 2006, have not been revealed. The Zaltbommel company, which has been in bankruptcy for some time, originally employed about 30 people. Considerations made will determine how many employees will retain their jobs thanks to Vostermans' takeover.

This acquisition represents an addition to Vostermans' existing activities. With its brands Multifan and Mf-Flex, the company is a global player on the industrial and agricultural fan markets. The EMI brand name, which Indolec used to market their fans, will be added as the third brand to the existing Vostermans range.

Chairman of the board H. Vostermans of Vostermans Ventilation views the acquisition as an important expansion of market opportunities. "The takeover suits our strategy which aims to provide specific solutions to the demands on the growing market. This broadens our market position. Moreover, Indolec's portfolio is perfectly attuned to our existing product package."

The manner in which the activities in Zaltbommel are to be integrated in the production activities in Venlo will be decided soon.

Vostermans Ventilation, part of Vostermans Companies, is a manufacturing company which produces fans and control equipment for the agricultural and industrial market. The company manufactures the well-known Multifan fans and Mf-Flex motors. Vostermans Ventilation has branches in the Netherlands, France, Malaysia and the United States. Vostermans Companies employs 250 people.