Gunnebo Industrier increases its shareholding in Australian subsidiary to 100% Gunnebo Industrier is increasing its shareholding in Gunnebo Industries Pty Ltd., its Australian subsidiary, from 70% to 100%. The transaction strengthens the position of the Lifting business area in Australia and creates a stable foundation for the Group's ongoing growth in Australia and Oceania. With 11 employees, Gunnebo Industries Pty Ltd in Sydney reports annual sales of SEK 30 million. The subsidiary is primarily engaged in selling and distributing the chain and lifting components of the Lifting business area. Christer Lenner, CEO of Gunnebo Industrier AB, says, "Full ownership provides a stable basis for further expansion in Australia and Oceania. The region is exhibiting strong growth, offering solid potential for Lifting as well as our Technical Products business areas." The Australian subsidiary, which has been a majority-owned subsidiary since 1990, draws most of its customers from the fishing, harbour, construction, offshore and mining industries. 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 increases its shareholding in Australian subsidiary to 100%
| Source: Gunnebo Industrier AB