STOCKHOLM, Sweden, April 20, 2005 (PRIMEZONE) -- Industrivarden's board today decided to introduce the wholly owned subsidiary Indutrade AB on the stock market during the second half of 2005.
Industrivarden intends to remain as a long-term owner of Indutrade with an approximate 35% stake in the company, ensuring Industrivarden's shareholders a continued interest in Indutrade's development.
Indutrade conducts trade in imported industrial components for customers with a recurring need. The products are offered together with qualified technical system solutions. Suppliers consist of international companies with branded products and major development resources as well as small manufacturers of niche products. As a rule, the Indutrade companies have exclusive agency agreements for their respective geographic markets. Customers consist primarily of industrial companies in northern Europe and Benelux. Indutrade reported earnings after net financial items of SEK 220 M in 2004, on sales of approximately SEK 3.5 billion. The company has approximately 1,400 employees. Indutrade's CEO is Johnny Alvarsson.
"The decision to introduce Indutrade is in line with our strategy of working as active owners in a transparent portfolio of listed Nordic companies," comments Anders Nyren, President and CEO of Industrivarden. "Indutrade has experienced favorable development for many years. By listing the company, new opportunities will be opened at the same time that Industrivarden can continue to serve as an active owner in a company with good future potential."
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