In 2022, GARO will expand operations in Sweden by relocating a significant part of the operations in the GARO Electrification business area from three facilities to a new facility in Hillerstorp. The aim is to establish efficiency and growth both in GARO Electrification and GARO E-mobility.
The facility in Hillerstorp that GARO is leasing will comprise production, a warehouse and offices that will become operational in autumn/winter 2022. Production operations in the GARO Electrification business area in Värnamo and Gnosjö will be relocated to the new facility and production operations for GARO E-mobility in Gnosjö are set to expand. The existing lease for the property in Värnamo has been terminated and a smaller industry property in Gnosjö will be divested with an assessed market value of about MSEK 15.
"Continuing to develop operations in Sweden and Småland is part of our growth strategy for continuing to expand in both the GARO Electrification and GARO E-mobility business areas. Gnosjö is a natural location for GARO and the expansion of operations with additional space and jobs in the municipality is significant given that the Gnosjö spirit is part of our heritage," says Patrik Andersson, CEO of GARO Group.
For more information, please contact:
Patrik Andersson, CEO: +46 (0)76 148 44 44
Helena Claesson, CFO: +46 (0)70 676 07 50
GARO AB (publ) Corp. Reg. No. 556071-7772 is a company that develops, manufactures and markets innovative products and systems for the electrical installations market under its own brand. GARO's customer offering is to provide complete solutions in the product areas of Electrical distribution products, E-mobility, Project business & Temporary Power with a focus on electrical safety, user-friendliness and sustainability. GARO was founded in 1939, has its head office in Gnosjö and is today an international company with operations in six countries with around 500 employees. The company's production units in Sweden are located in Gnosjö and Värnamo, as well as in Szczecin, Poland. GARO's sales in 2021 amounted to MSEK 1,296. GARO is listed on Nasdaq Stockholm under the ticker name GARO. For more information, see www.garo.se
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