STOCKHOLM, Sweden, Aug. 26, 2002 (PRIMEZONE) -- In September, Hans Ake Noras will take up his position as CEO of Atle Industri - one of the major holdings in private equity company Ratos's portfolio.
Hans Ake Noras has sound experience of working with companies from an owner perspective. As a consultant for the Atle Group he managed a number of turnaround assignments in recent years. In the 1990s Noras worked within the Securum Group where he was responsible for the Group's reconstruction and for divestment of a number of trading and industrial companies. Previously he also worked at SSAB and was CEO of Leksells AB. Noras will succeed Bo Ulvan upon his retirement.
"The assignment of CEO of Atle Industri is well in line with my previous activities," said Hans Ake Noras. "The Group's owners have given me a clear mandate to create new value in partnership with executives of the Atle Industri Group."
Atle Industri, which is 50% owned by Ratos, comprises a portfolio of 15 companies with operations in trading, engineering, waste management and IT/technology. The companies include AKA Tempcold (distributes cooling products), Nasstrom (hydraulic products wholesaler), Moving (materials handling systems), Nordhydraulic (hydraulic valves), Elpress (electrical connectors), Pressmaster Tool (crimping tools) and Envac Centralsug (waste management systems).
In 2001 the Group's sales totalled SEK 2.4 billion with a loss before tax of SEK 28m. Action programmes which are expected to have an impact in the current year have been introduced in several of the companies.
For additional information, please contact: Hans Ake Noras, CEO designate of Atle Industri, +46 70 328 02 80 Thomas Mossberg, Senior Investment Manager and Deputy CEO of Ratos, +46 8 700 17 00
Financial calendar 2002 and 2003: Six-month report 26 August Interim Report January-September 2002 13 November 2002 Year-end report 2002 21 February 2003 Annual General Meeting 2003 9 April 2003 Interim Report January-March 2003 12 May 2003 Interim Report January-June 2003 27 August 2003 Interim Report January-September 2003 12 November 2003
Ratos is a listed private equity company. The business concept is to maximise shareholder value over time by investing in, developing and divesting primarily unlisted companies. Ratos thus offers stock market players a unique investment opportunity. The net asset value of Ratos's investments is more than SEK 8 billion. Ratos's holdings include Arcorus, Atle Industri, Camfil, Capona, Dahl, DataVis, DIAB, Dynal Biotech, Gadelius, Giga Consulting, Haendig, Haglofs, Hilding Anders, HL Display, Industri Kapital, Intervect, Lindab, Martinsson, Q-Labs, Superfos and Telia Overseas.
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