Solaronics SAS is a global leader in gas driven infrared drying and air technology systems for a wide
range of industries such as paper & board, metal, and glass processes, and has been active in these
markets for more than 50 years. It is part of the Argynnis Group, a family owned Swedish group
founded in 1984 specialising in niche companies with unique products and technologies for a
professional clientele.

With this acquisition, Solaronics SAS augments its portfolio of gas infrared emitters for the paper & board, metal processing and other markets where the company is active.

“This acquisition perfectly fits our long-term strategy to extensively offer the best possible non-contact
drying solutions to generate value for our existing and future customers. Combining Solaronics’ and
Selas’ high intensity infrared technologies will create new opportunities for future growth” says Yannick
Lescanne, CEO of Heating and Drying group and General Manager of Solaronics SAS.

“This acquisition is perfectly in line with our strategy to be the technology leader in all our business
units, this will also give us the strength for the next level of growth” says Leif Gustavsson, CEO, Argynnis
Group.

Solaronics SAS together with Ircon Drying Systems AB and their subsidiaries in China and US, form the Heating &
Drying business unit of Argynnis group. Our non-contact drying solutions based on gas or electrical infrared and
air drying / heating technology have served the industry since more than 50 years and can integrate a full Turnkey
option. We have custom solutions for most industrial processes including but not limited to Paper & Board, Metal
Processing, Food, Glass and Industrial Flooring. Ircon-Solaronics has around 100 employees in France, Sweden,
USA and China. (www.ircon-solaronics.com)

Argynnis Group, with headquarters in Trollhättan Sweden develops niche companies with unique products or
technologies for professional customers. We operate within four main areas: Standby Group, Binar Handling
Group, Industrial Solutions and Heating & Drying Group. The group has around 350 employees in Sweden,
Germany, France, UK, China, USA, Turkey and Finland. (www.argynnisgroup.com)