STOCKHOLM, Sweden, Sept. 4, 2002 (PRIMEZONE) -- Munters' subsidiary Polygon AS in Norway acquires its franchisee Polygon Kristiansand AS, and strengthens further its position in Water and Fire Damage Restoration Services.
Polygon Kristiansand has its business in Kristiansand, Norway and had areported sales of NOK 11 million (SEK 13 million) in fire and waterdamage restoration in the year 2001. The company has 7 employees.
"Polygon Kristiansand has been our franchisee since 1982, and it is logical that we acquire the company as they now focus entirely on fire and water damage restoration," said Svein-Hakon Bottolfsen, Managing Director of Polygon.
The acquisition price, including interest-bearing debts, is approximately NOK 2 million (SEK 2.5 million). The acquisition, which will not result in any goodwill, will be consolidated in the Munters Group from September. The sales is already included in Polygon's accounts as Polygon Kristiansand has been a franchisee of Polygon. The immediate effect on Munters' results will be negligible.
For further information, please contact:
Lennart Evrell, CEO Tel: 08-626 63 03 Mob: 070-588 15 15 Bernt Ingman, CFO Tel: 08-626 63 06 Mob: 070-672 74 54 Soren Sjostrom, Tel: 08-626 63 08 Mob: 070-600 22 44 VP Corporate Communication
Munters is the world leader in humidity control with products and services for dehumidification, humidification and cooling of air. Customers are found in a wide range of segments, the most important being insurance-, utilities-, food-, pharma- and electronics- industries. Manufacturing and sales are carried out via the Group's own companies in more than 25 countries in Europe, Americas, and Asia. The Group has 3,000 employees and net sales of SEK 4,300 million. Munters is listed on Stockholmsborsen, the Stockholm Stock Exchange. For more information see www.munters.com
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