Formac Expands in Norway Through Acquisition
Formac Production AB, headquartered in Växjö with operations in Sweden, Norway, and Finland, has acquired the business operations of Tele Trading AS in Norway. The business becomes part of the Formac Group as of November 1, 2024.
This acquisition is an important step in Formac's long-term growth plan and strengthens the company's position as a supplier of innovative solutions and high-quality products to the Nordic and European automotive industry. Tele Trading AS holds a leading position in the Norwegian market for license plate holders and car accessories, as well as printed and promotional items for the automotive sector.
Tele Trading's established operations in Notodden will continue in their current form, enhancing Formac AS's presence in Norway. In conjunction with the acquisition, Formac AS will relocate its Norwegian office and warehouse to Notodden.
"We are very pleased to welcome Tele Trading to Formac. Norway is a strategically important market for us, and through this acquisition, we gain a well-established business with experienced staff, a respected brand, and strong local roots. Together, we will further develop our offer to serve our Norwegian customers even better", says Jacob Hermansson, CEO of Formac.
About Formac: Formac is the market leader in custom printing and innovative special products for the automotive industry. The company's products are used daily on millions of vehicles and by car dealers and workshops across Europe. Formac has an annual turnover of approximately 90 million SEK and 32 employees with offices in Sweden, Norway, and Finland.
About Tele Trading AS: Founded in 1995, Tele Trading specializes in graphic production and sales of printed and promotional items with a special focus on the automotive industry. The company has offices, production facilities, and a warehouse in Notodden, Norway. The company has a turnover of approximately 19 million SEK and has 7 employees.
For more information, contact:
Jacob Hermansson, VD, Formac
+4672-720 30 35
jacob.hermansson@formac.se