Swedia Networks expands in Germany
- 2000-12-17 23:00 UTC
Swedia Networks' German subsidiary has acquired 100 % of the shares in the German company Cochet & Schwarz Planungsgesellschaft GmbH. The aim of the acquisition is to procure domestic personnel with established German contact networks.
Swedia Networks' newly established subsidiary in Germany, Swedia Networks Deutschland GmbH, currently has ongoing projects of a value of MSEK 345. The key issue was to obtain sufficient manpower in the most efficient manner in order to deal with the business generated, including support and administration. It was also very important to achieve geographical coverage of the German market and to establish contact networks with customers, partners and public authorities. The acquisition of the German player meets all these requirements.
"Our conclusion is that the most efficient way in which to grow is a combination of organic growth and acquisition of other companies," says the MD and Group Chief Executive of Swedia Networks, Bertil Strid. "In the present situation, it is very difficult to recruit personnel in Germany with competence in the field of telecommunications," Strid continues.
Swedia Networks Deutschland GmbH, is now represented in Frankfurt, Stuttgart and Berlin. Project offices are also established in Vienna (Austria) and Prague (Czech Republic).
Cochet & Schwarz Planungsgesellschaft GmbH, which has 20 employees, was the subsupplier of services to Swedia Networks in a large project in progress. Cochet & Schwarz specialises in network planning, documentation, licence issues, project management and project monitoring. In the last financial year, which ended on 30 June 2000, the company had a turnover of the equivalent of MSEK 23.6.
Germany represents 24 % of the total European telecom market with 46 million subscribers and an estimated value of MSEK 420,000. The mobile market in Germany is growing by over 10 million subscribers per annum.
Swedia Networks ABJonas Högström, MD of Swedia Networks Deutschland GmbH (English and German)Tel.: +49 6196 95058 10, Mobile: +49 175 9300 777
Jörgen Runesson, Executive Vice President Swedia Networks AB (English)Tel: +46 8 585 379 10. Mobile: +46 70 557 53 52
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