Hexagon sells AKA's refrigeration operations
4 March 1999
Hexagon sells AKA’s refrigeration operations
· Capital gains amount to more than MSEK 20 after tax
· Purchase price and repayment of loan release a total of MSEK 152
· The reason for the disposal of these operations is strategic and makes
possible focusing on
efforts within AKA’s priority product areas and expansion in Eeastern
Europe
Hexagon AB has today disposed of AKA’s refrigeration operations, AKA
Tempcold AB,
to Atle AB.
AKA Tempcold AB constituted the refrigeration operations of AKA
Industriprodukter AB
and conducts wholesale refrigeration operations in the Nordic countries and
also installation
work in Poland. AKA Tempcold AB has its head office in Bromma, Stockholm,
and has a
workforce of 128 in Denmark, Finland, Norway, Poland and Sweden. In 1998,
the company
had a turnover of MSEK 314.
AKA Industriprodukter is one of the leading technology trading companies in
Finland and, in
recent years, has built up a strong position in the Baltic states and in
Russia. Growth in these
countries is determined in the long term as good within the product areas
which remain in
AKA after the disposal of the refrigeration operations.
“The disposal of AKA’s refrigeration operations is a part of AKA
Industriprodukter’s strategy
of concentrating on developing the remaining operations within AKA
Industriprodukter”, says
Per Söderman, CEO of AKA Industriprodukter. “This will be put into effect
by acquisitions in
the Nordic countries, and expansion above all by organic growth in the
former Eastern bloc
countries."
AKA Industriprodukter is a technology trading company with operations in
the Nordic
countries, the Baltic states and Russia. Turnover in 1999 is expected to
amount to approx.
MSEK 600 after the sale of AKA Tempcold AB. AKA Industriprodukter is a
wholly owned
subsidiary of Hexagon AB.
Hexagon is an industrial and commercial group whose business concept is to
acquire and
long-term develop medium-sized industrial companies. The company is listed
on the
Stockholm Stock Exchange and turnover in 1998 amounted to SEK 4.9 billion.
The disposal of AKA Tempcold AB entails capital gains of MSEK 20 after tax
and
favourably affects earnings per share by approx. SEK 1.20 in 1999.
Alfred Berg acted in an advisory capacity to Hexagon in the sales process.
Landskrona, Sweden, 4 March 1999
HEXAGON AB (publ)
Börje Andersson
President and CEO
For further information, please contact:
Claes Lindkvist, Vice President Acquisitions & Investor Relations,
Hexagon,
Tel. No. +418-44 92 00, +70-585 18 67
Per Söderman, VD, AKA Industriprodukter, Tel. No. +358 9 547 701, +358 500
216 389
Stig Karlsson, VD, Atle Tjänste & Handel AB, Tel. No. +8-506 101 141,
+70-641 13 45
- Hexagon sells AKA\'s refrigeration operations
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