The AGES companies previously formed part of the listed XANO Group. In spring 2014, the annual general meeting at XANO made the decision to form an independent group under the parent company AGES Industri. This was because it was thought that the conditions for continued growth and profitability would be reinforced by running the business separately. A new name strategy was implemented for the company’s under the collective name of AGES.
On April 30, AGES Industri AB acquired all shares in UB Verktyg AB, which is a well-established manufacturer of die casting tools. Through the acquisition, we are developing our strategy to further expand AGES’ customer offering through more efficient development, short lead times and participation in the development of new products.
A strategic acquisition in order to expand the group’s customers offering, create inroads into new markets and supplement existing business. The unit in Ningbo, China offers even more competitive solutions and reinforces the AGES position.
In accordance with a decision made by the annual general meeting, AGES was listed on Nasdaq Stockholm First North Premier on 16 May 2014. The company name AGES was launched at the same time in order to clarify the group affiliation of the companies in the group. Solna Pressgjuteri and ADC of Sweden are required and become AGES Casting Solna and AGES Casting Kulltorp respectively.
The addition of ÅGES Metallgjuteri and ITB Teknik 2012 provided an opportunity for reorganisation within the XANO Group, resulting in a new business unit: Precision Components. Segerströms, Värnamo Industri and Metall Göte are acquired by XANO between 2005 and 2011.