STOCKHOLM, Sweden, May 6, 2002 (PRIMEZONE) -- Munters subsidiary, Polygon AS in Norway, acquired the Norwegian company Alfa Service Senter AS, and further strengthens its leading position in Water and Fire Damage Restoration Services in the Norwegian market.
Alfa Service Senter AS (Alfa) has its headquarter in Sandnes/Stavangerwith two service depots in Egersund and Flekkefjord. The company offersservices for water and fire damage restoration and had during year 2001sales of NOK 50 million (SEK 58 million) and 90 employees.
"Alfa Service Senter AS has for 30 years been one of our largest franchisees, and it is logical that we acquire the company to further strengthen our position on the Norwegian market", said Svein-Hakon Bottolfsen, Managing Director of Polygon.
Alfa Service Senter AS will be operating as a separate unit, and the Managing Director Kare Jensen will remain in his present position.
The acquisition price is NOK 14.5 million and will create goodwill and excess values of approximately NOK 8 million. The acquisition will be consolidated in the Munters Group from May 1. Alfa is a franchisee of Polygon and a major part of the sales is already included in Polygon's accounts. A positive, though marginal, effect on Munters' results is expected already this year.
The acquisition is subject to approval from the Norwegian Ministry of Trade and Industry (Naerings- og Handelsdepartementet).
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, VP Corporate Communication Tel: 08-626 63 08 Mob: 070-600 22 44
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 2,900 employees and net sales of SEK 4,100 million. Munters is listed on Stockholmsborsen, the Stockholm Stock Exchange. For more information see www.munters.com
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
www.waymaker.net/bitonline/2002/05/06/20020506BIT00780/wkr0001.doc www.waymaker.net/bitonline/2002/05/06/20020506BIT00780/wkr0002.pdf