STOCKHOLM, Sweden, July 1, 2003 (PRIMEZONE) -- Gunnebo has today acquired through its subsidiary Gunnebo Industrier AB the non-skid division of the Norwegian company Tellefsdal A.S.
The division, which specializes in chain-based non-skid products for tractors and trucks, has an annual turnover of some MSEK 45 and 50 employees. Half of the output is sold on the Norwegian market, and 35 per cent go to markets in the USA and Canada. The remaining sales go to the other Nordic countries.
Gunnebo Industrier's non-skid business has today a turnover of some MSEK 90 and is market leader in Sweden and Finland. Some 10 per cent of its business is with the USA and Canada.
"The acquisition of Tellefsdal's non-skid business will significantly improve our position on the Norwegian market; it will also result in a radical increase in sales on the large and important American and Canadian markets. We see potential for achieving valuable synergies as well as to strengthen our market presence on our most important markets," said Gunnebo's president and CEO Bjarne Holmqvist.
"Tellefsdal concentrates primarily on the light chain segment, and its range includes several special products developed by the company itself, for which it has advanced production facilities at its plant in Gjerstad, some 200 kilometres from Oslo. In terms of product range, Tellefsdal's products complement ours, and I believe there is consid erable potential for us to swap products between our Finnish factory in Loimaa and our new facilities in Norway with the object of achieving significant economies of scale in production," said Christer Lenner, president of Gunnebo Industrier AB.
For further information please contact:
Bjarne Holmqvist, President and CEO, Gunnebo AB
+46 31 83 68 00/+46 705 83 64 45
mobile +46 708 40 03 70
Christer Lenner, president, Gunnebo Industrier AB
+46 490 890 00, mobile +46 705 91 03 05
Janerik Dimming, director of corporate communications, Gunnebo AB
+46 31 83 68 03, mobile +46 705 83 68 03
janerik.dimming@gunnebo.se
www.gunnebo.se
Gunnebo is a fast-growing international security group with 110 companies in 32 countries in all parts of the world. Sales to a further hundred markets are handled by agents and distributors. The Group's turnover amounts to some MEUR 760. Gunnebo Industrier AB, which is a member of the Gunnebo Group, consists of three business units: Gunnebo Lifting, Gunnebo Block and Gunnebo Fastening. Gunnebo Industrier AB has an annual turnover of some MEUR 130 and 1,050 employees. It has a foreign sales ratio of approximately 80%. Gunnebo Lifting has an international reputation for the safety and high quality of its complete lifting systems. Gunnebo Lifting is also internationally recognised as a major manufacturer of chain based non- skid products for forest machines, tractors and trucks. The business unit has annual sales of some MEUR 74, of which around 80% go to markets outside Sweden. In addition to Western Europe, the most important markets are the USA, Brazil, Australia and Japan.
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