VARNAMO, Sweden, Feb. 13, 2003 (PRIMEZONE) -- As part of Finnveden's strategy to streamline the Group to focus on core operations, the automotive industry, Finnveden's holding of shares in Gnosjo Konstsmide is now being divested.
The transaction has no effect on earnings, but yields a positive cash flow of slightly more than SEK 20 M.
Finnveden has held 35% of the shares in Gnosjo Konstsmide since 1995.
For additional information, contact: Nils-Ove Andersson, CFO, Finnveden, +46 31 734 59 12
Finnveden is an international engineering group, with strong market positions in the automotive industry. Products include fasteners, engine components and sheet-metal components. Finnveden is listed on Stockholmsborsen (Stockholm Exchange) and has annual sales of about SEK 4.5 billion, with 3,500 employees. Additional information is available on Finnveden's website: www.finnveden.se
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