Hexagon acquires Cubic-Tavleproduktion A/S

HEXAGON INTENDS TO ACQUIRE CUBIC-TAVLEPRODUKTION A/S The by Hexagon wholly-owned Danish subsidiary, Systemteknik A/S, which is a part of the Hexagon business area Automation, has signed a Letter of Intent with the Danish company, Cubic-Modulsystem A/S. Systemteknik A/S has the intention to acquire the, also in Aalborg situated, competitor Cubic-Tavleproduktion A/S. Conditioned by a satisfying due diligence, the transaction will be concluded on the 1st of October, 2001. Through this acquisition, one of Denmark's largest and probably strongest control panel builder has been created. The new company will have a turnover of 110 MDKK and employ around 125 people. The acquisition will contribute to Hexagon's earnings from start. For further information, please contact: Gert Viebke, Hexagon AB Börje Vernet, CEO, Dacke Hydraulik AB Tel: 08 - 601 26 20 Tel: 042-38 15 50 Hexagon AB is a multinational engineering group with the long-term ambition of positioning itself as number one or number two within its strategies sector. The operation is divided into four business areas: Hexagon Automation, Hexagon Engineering, Hexagon Wireless and Hexagon Metrology. The group's targets are to increase earnings per share after tax by at least 15 per cent p.a., and achieve a return on capital employed higher than 15 per cent over the business cycle. Current turnover amounts to more than 7 SEK billion p.a.