Gunnebo Industrier acquires Emirate Safety Services in United Arab Emirates The acquisition of Emirate Safety Services LLC (EmiSafe) in United Arab Emirates strengthens the presence of the Lifting business area in the Middle East and provides a platform for the Group's ongoing growth in the region. With sales of approximately SEK 20 million, EmiSafe has been the Lifting business area's partner and distributor in the Middle East for a number of years. The company is primarily engaged in sales of hoisting equipment, as well as testing and servicing of cranes and lifting equipment. Among its customers are construction firms, crane companies, shipyards, harbours and shipping lines, as well as oil and gas companies. Christer Lenner, CEO of Gunnebo Industrier AB, says that "the Middle East and United Arab Emirates represent an expansive, fast growing region. In line with our strategic focus, the acquisition of EmiSafe initially provides a platform for growth of our Lifting business area in the Middle East. But we foresee solid potential for our Fastening business area and Blocks business unit as well." While EmiSafe is most active in Dubai, it also has units in the Abu Dhabi and Sharjah emirates. The company is expected to be the hub and distribution centre for Gunnebo Industrier's planned Middle East expansion. Gunnebo Industrier is acquiring 49%, the highest foreign shareholding permitted in United Arab Emirates, of EmiSafe and has contractual control of the remainder. For reporting purposes, EmiSafe will be fully consolidated into Gunnebo Industrier. For additional information, feel free to contact: Christer Lenner, CEO and President, Gunnebo Industrier AB +46 705 91 03 05, christer.lenner@gunneboindustries.com Urban Hedman, Business Area Manager, Gunnebo Lifting +46 703 95 95 90, urban.hedman@gunneboindustries.com Tobias Bülow, Director of Group Communications, Gunnebo Industrier AB +46 703 38 93 10, tobias.bulow@gunneboindustries.com Gunnebo Industrier AB, an international group of industrial companies, is active in 14 countries and has around 50 major distributors and agents worldwide. The group develops, manufactures and markets chain and lifting components, fastening systems for the construction industry, blocks and systems for heavy lifting, non-skid products and telescopic ladders. Gunnebo Industrier consists of the Fastening, Lifting and Technical Products (including the Blocks, Non-Skid and Telescopics business units) business areas. Gunnebo Industrier, which sells well-known products in established segments, is the leader in each product and market area. With around 1,300 employees, the group reported sales of approximately SEK 1.7 billion in 2006. For further information visit www.gunneboindustries.com.
Gunnebo Industrier acquires Emirate Safety Services in United Arab Emirates
| Source: Gunnebo Industrier AB