Allgon has initiated a process for the sale of the antenna company Smarteq

11 January 2021 - 08:00

Allgon AB (publ) (“Allgon”) has, as previously communicated, begun a streamlining of the company's operations towards industrial radio remote control. As a result of the streamlining strategy, three niche subsidiaries have left the group during the past year. As part of its continued work, Allgon has engaged Erneholm Haskel AB as financial advisor for a potential sale of Smarteq Wireless AB (“Smarteq”). Smarteq develops and delivers antennas and antenna systems with a focus on high performance, robustness and reliability for customers in the energy, automotive and industrial segments. During the financial year 2020, Smarteq accounted for 12 per cent of the Allgon group’s sales for continuing operations. Allgon estimates that a sale of Smarteq may be completed during the first half of 2021, after which the refinement to industrial radio remote control is completed.

This information is information that Allgon AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, on 11 January 2021, at 08.00 (CET).

Provided by: MFN
Nasdaq First North GM (Sweden)
Allgon AB
Allgon AB develops, manufactures and supplies solutions in industrial radio control to customers around the world. The company offers products to various segments; such as industry, mobile, mining, control of doors, gates and other barriers and security solutions....
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