XANO acquires automation company in the pharmaceutical industry
XANO has today acquired the automation company Graniten, based in Uddevalla, Sweden. Graniten develops and produces high technology solutions for automation processes. Its customers are leading players in pharma, medtech and healthcare, mainly located in Europe. The company has 70 employees and net sales totalled SEK 100 million during the 2022/2023 financial year. Graniten will be part of XANO’s Industrial Solutions business unit.
Graniten is long known for the manufacture of case packers and the development of automation solutions. Based on the recently introduced Graniten Flexline Platform for low-volume pharmaceutical products, reference projects to well-known pharma companies in Europe have been delivered. The company actively promotes this unique solution to other producers and contract packagers in the industry. The company management sees potential in the further development of the concept and the launch of similar modular setup within other sectors. Supplementary services, like preventive maintenance and line-performance improvement through data analysis, will be added to the portfolio of Graniten to further strengthen its market position.
The technical design capabilities of Graniten are expected to allow the business unit companies to empower their development of market openings within other industries, like packaging and EV Battery. Networking in pharma, medtech and other industries offers additional growth opportunities for both Graniten and its new sister companies. Graniten will also continue to work with existing business opportunities in contract manufacturing.
Consolidation will be effective as of 22 March 2024. The acquisition is initially expected to have a marginal impact on XANO’s earnings per share.
For more information, please contact:
» Lennart Persson, President and CEO, tel +46 36 31 22 33
XANO Industri AB (publ)
www.xano.se
XANO develops, acquires and operates niche engineering companies offering manufacturing and development services for industrial products and automation equipment. The Group’s operations are divided into three business units and are represented in the Nordic countries, Estonia, the Netherlands, Poland, China and the USA. Consolidated revenue totals SEK 3.5 billion and the number of employees is approx. 1,400. The XANO share has been listed on the Stockholm Stock Exchange since 1988.