MALMO, Sweden, Jan. 20, 2003 (PRIMEZONE) -- Cardo has acquired all shares in the French company SEA B2L SAS, which has a turnover of approximately SEK 70 million and employs roughly 30 people. The acquisition strengthens the position of the Door business area in the French market for residential garage doors while supplementing its product range.
SEA B2L, which was founded in 1992, distributes residential garage doors and automatic gate control devices to specialized retailers in France and has, among other things, been one of Doors' distributors in the French market. The acquisition supplements Doors' sales of residential garage doors in France; and, in addition, automatic gate control devices will be a natural complement to Doors' range of products for the consumer sector.
The acquisition is expected to have a marginally beneficial effect on Cardo group earnings in 2003.
Cardo Door is a business area in the Cardo group and one of the world's largest manufacturers of industrial doors and Europe's leading supplier of dock loading equipment. Cardo Door is also the market leader in servicing these products and one of Europe's largest manufacturers of residential garage doors.
Cardo AB (publ)
For further information, please contact:
Christer Roskvist, Head of Public Relations phone +46 40 35 04 25, +46 40 35 04 00
Cardo is an international engineering group and a leading supplier of high-quality products and systems with a good aftermarket. Cardo holds strong positions in the markets for doors and pumps. Cardo has subsidiaries in about 30 countries with the focal point resting in western Europe.
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