STOCKHOLM, Sweden, Feb. 4, 2005 (PRIMEZONE) -- In order to further strengthen its position in the European Lighting Industry and to create a platform for growth in the Retail Lighting market segment, Fagerhult today announces the acquisition of the Swedish lighting company LampGustaf AB. The acquisition will have a positive effect on the full year profit per share in 2005.
-- Its in our strategy to be among the top three Lighting Systems providers in Europe through profitable growth. With this acquisition we further strengthen our position as a strong market leader in our main Nordic market, says Per Borgvall, CEO Fagerhult.
LampGustaf is a Nordic market leader in its core business Retail Lighting Systems, which is a perfect fit to Fagerhults strategic objective to grow in this market segment.
Alongside Retail Lighting Systems LampGustaf offers a broad range of Lighting Sources, a strong and established product line for Domestic Lighting and Outdoor Lighting products for public areas through its subsidiary Elenco.
LampGustaf is mainly a trading business, but with a small production facility for its outdoor lighting products. With around 90 employees and a turnover of approximately 300 MSEK the company is headquartered in Bollebygd outside Goteborg. The business has a healthy profit, growth momentum and an established customer platform. The consideration for the share purchase is 110 MSEK in cash and 250 000 shares through an issue of new shares.
-- Retail Lighting Systems is an important and fast growing market segment globally. Through the acquisition of LampGustaf we create a strong Business Division for Retail Lighting Systems, a very good platform in the Nordic region and huge opportunities for further growth in Europe, says Per Borgvall.
For more information please contact: Per Borgvall CEO tel: +46 36 10 87 06 mobile: +46 70 655 45 44 e-mail: per.borgvall@fagerhult.se
Ulf Karlsson Financial Director tel: +46 36 10 85 63 mobile: +46 70 537 04 54 e-mail: ulf.karlsson@fagerhult.se
Fagerhult develops, manufactures and markets high quality lighting systems. Our product range includes luminaries for offices, shops, hospitals, schools, industries and other public environments. Manufacturing takes place in Habo, Ornskoldsvik, Falkenberg, Ahus in Sweden and also in Suzhou in China. Foreign sales companies are located in Norway, Denmark, Finland, Germany, the Netherlands, the U.K. and China. On other markets sales are carried out through agents. The Fagerhult Group, which includes Atelje Lyktan, Aneta, Belid and Tryckta, has sales of SEK 1 400 million, 1 200 employees. The Fagerhult share is listed on the Stockholm Stock Exchange's O-list.
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