STOCKHOLM, Sweden, March 08, 2005 (PRIMEZONE) -- By the acquisition of the Estonian sales company Rinaldo Marketing Fagerhult get one step closer to its vision beeing one of the top three lighting company in Europe. With strengthened position in the Baltic region, which now also is a part of the EU, Fagerhult open up its picture of its home market.
"The geographical position of Estonia makes it to a central place of the Baltic region which includes Russia. During the last two years Fagerhult has built a Russian sales organisation of six people placed in St Petersburg, Moscow and Yekaterinburgm," says Per Borgvall CEO Fagerhult.
Rinaldo Marketing is a trading company with seven employees and with a sales turnover of approximately 10 MSEK. Based in Tallinn the company will cover the Baltic countries and report to Fagerhults Finnish Sales Company. Fagerhult OU will be the name of the company.
More and more companys get interested of Estonia. A fast growth of the market and many new building projects are some of the reasons that foreign company wants to invest. Swedish companys are no different. And there are good reasons to look at he Baltic region. Sweden has by tradition been less interested of that region than Finland for instance.
"As our company in Finland is growing and the Baltic region now includes the new EU markets it is natural for us to count the Baltic region as a part of our home market," says Per Borgvall.
Fagerhults strategy, to be among the top three Lighting System providers in Europe through profitable growth, is one of the reasons of the acquisition.
"With the establishment in Estonia we further strengthen our position as a strong market leader in our important home market," says Per Borgvall CEO Fagerhult.
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 UK and China. On other markets sales are carried out through agents. The Fagerhult Group, which includes Atelje Lyktan, Belid, LampGustaf and Tryckta, has sales of SEK 1400 million, 1200 employees. The Fagerhult share is listed on the Stockholm Stock Exchange's O-list.
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