New subsidiary in Sweden

By 14 November, 2014NEWS
Filial en Suecia de IStobal ISTOBAL, the Spanish company leader in cleaning solutions for the automotive sector, has acquired a majority shareholding in its current distributor, the company CWS, setting up a new subsidiary in Sweden. CWS is specialized in the sale and service of car wash equipment in the region. With the new affiliate, Istobal Sverige AB, the Spanish company reinforces its technical organisation and commercial structure in the Scandinavian region. Istobal expects to reach a turnover of 4 million Euros in Sweden in 2015. Between the clients portfolio of the CWS Group stand local groups of petrol stations and major Scandinavian petrol companies like Statoil, Q8 and Preem. Istobal Sverige AB, based in Staffanstorp, will also assume the technical assistance service in Sweden, with eleven employees and two technical service points in Mälmo and Stockholm with field staff. Istobal has now seven subsidiaries in Europe: United Kingdom, Denmark, Austria, France, Serbia, Sweden and Spain. The company has also a subsidiary in the US and one in Brazil and counts with a wide distribution network over the world. The company will continue reinforcing its European network and expects to grow in markets with great sales potential like China or India.