YTTERBY, Sweden, Dec. 18, 2002 (PRIMEZONE) -- During the year 2003, New Wave Group (Stockholm:NEWAb) plans to establish a subsidiary for its trading operations, situated in Shanghai or Hong Kong, in relation to European major clients, as well as a subsidiary in Shanghai that works with sales of the Group's promowear and promogifts range in the Chinese market.
"We have looked into the Chinese market for several years and have earlier declared our wish to establish our operations their, within the Corporate Profiling business area, and as far as the establishment of the trading operations is concerned, this is a natural development of our current operations, since a number of large chains and private labels are already our customers," said Goran Harstedt, vice President of New Wave Group.
"We now choose to increase our growth rate again, through new business starts for instance, after a very good result development during 2002. We have always believed and declared that the fourth quarter of 2002 will be a very good one, which we are now able to confirm. Thanks to the current result development it is definitely time to increase the growth rate, through new business starts as well as acquisitions," said Torsten Jansson, President of New Wave Group.
New Wave Group AB (publ), Goran Harstedt Vice President
For more information, please contact: Torsten Jansson, President of NWG Phone: +46 708 99 80 50, +46 303 24 65 01 Goran Harstedt, vice President of NWG Phone: +46 708 99 80 17, +46 303 24 65 02 We have moved: New Wave Group AB (publ) Postal address: Box 2129, SE-442 02 Kungalv Visiting address: Hollandsgatan 5, SE-442 50 Ytterby Phone: +46 303 24 65 00 Fax: +46 303 24 65 99 This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: www.waymaker.net/bitonline/2002/12/18/20021218BIT00320/wkr0001.doc www.waymaker.net/bitonline/2002/12/18/20021218BIT00320/wkr0002.pdf