STOCKHOLM, Sweden, April 29, 2003 (PRIMEZONE) -- Karlshamns subsidiary Binol AB and Aarhus Olie have reached an agreement to the effect that Karlshamns acquires Aarhus Olie's operations in the technical oils segment. The take-over is expected to come into effect as of May 1, 2003.
The acquisition strengthens Binol's position as world leader within vegetable oils for technical applications.
The Aarhus Olie product range is currently marketed under the brand name Vegeol, and largely matches Karlshamns own. The acquisition also includes new technology, however.
The majority of Aarhus Olie's customers are found on the Danish, Swedish and Northern European markets. The acquisition is in line with Karlshamns strategic focus on vegetable, eco-friendly oils for customer segments like the metalworking, forestry and construction industries.
Only last year Binol signed a global distribution agreement with Shell. In the same period, a European distribution network for vegetable sawband oils was established.
For further information please contact Magnus Jorsmo, President of Binol AB telephone +46 (0)454-828 28, mobile +46 (0)73- 973 5828 Karlshamns CIO Bo Svensson telephone +46 (0)454- 821 93, mobile +46 (0)708- 182 193 E-mail: binol@karlshamns.se Internet : www.karlshamns.com
Binol is a company in the Karlshamns Group, responsible for the development, production and marketing of the Group's environmentally responsible technical oils.
In 2002, Karlshamns total sales approximated SEK 3,000 million. The Group has a total of around 750 employees, of whom 600 employed by the Swedish unit in Karlshamn. Karlshamns is Scandinavia's largest producer of vegetable oils and fats, its major customer segment being the food industry. Other important business areas are technical products, feed raw materials and speciality raw materials for the chemico-technical industry. Karlshamns operations have a strong global focus, with subsidiaries in the Netherlands, the United Kingdom, the Czech Republic, Poland and Malaysia.
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