NACKA STRAND, Sweden, Aug. 9, 2004 (PRIMEZONE) -- Hexagon has acquired all operating assets, including the order back log, from the Italian wheels manufacturer GPD Sprl. The acquired sales turn over amounts to approx. 2 MEUR.
GPD's manufacturing will be relocated to Hexagon Polymers plants in Sri Lanka. A decision to expand the Sri Lankan capacity has simultaneously been taken. The new capacity will be commissioned during the first half of 2005. The new capacity will cater for further volume growth for wheels as well as for gaskets for plate heat exchangers.
The Acquisition is taking Hexagon Polymers one step further to become the world leading supplier of solid wheels and rollers.
For further information, please contact:
Ola Rollen, President & C.E.O. Hexagon AB Tel: +46-8-601 26 20 Lars Olofsson, C.E.O Hexagon Polymers AB Tel: +46-371-84 801
Hexagon AB is a multinational engineering group with the long-term ambition of positioning itself as number one or number two within its strategic sectors. The operation is divided into four business areas: Hexagon Automation, Hexagon Engineering, Hexagon Metrology and Hexagon Polymers. The group's targets are to increase earnings per share after tax by at least 15 per cent p.a., and achieve a return on capital employed higher than 15 per cent over the business cycle. Current turnover amounts to more than 8 GSEK p.a.
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