STOCKHOLM, Sweden, March 5, 2003 (PRIMEZONE) -- Korsnas Packaging, a subsidiary of Industriforvaltnings AB Kinnevik (Nasdaq:KVIKa) (Nasdaq:KVIKb), has today completed the sale of Cargo Pak to Illinois Tooling. Cargo Pak, an operating division within Korsnas Packaging, is a market leader in the production of airbags for stabilizing cargo, and has a strong market position outside the Americas. Illinois Tooling, a large industrial group, is a market leader in airbag production in the US and this acquisition will further consolidate the group's global position.
The capital gain arising from this asset sale amounts to EUR 5 million.
For further information, please contact: Vigo Carlund, CEO, tel: +46 8 56200 000 Industriforvaltnings AB Kinnevik Peter Buckley, CEO, tel: +33 149 67 08 90 Korsnas Packaging Group
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://www.waymaker.net/bitonline/2003/03/05/20030305BIT00930/wkr0001.doc
http://www.waymaker.net/bitonline/2003/03/05/20030305BIT00930/wkr0002.pdf