Cardo's acquisition of Hafa approved by German competition authority

The Bundeskartellamt competition authority in Germany has announced that it has decided to approve Cardo's acquisition of the German group Hafa. This acquisition, which meant that Cardo became largest in Europe in dock loading equipment, was carried through in December 1998.

The acquisition of Hafa, with approximately SEK 500 million in turnover and about 170 employees, is part of Cardo's strategy for continued growth in its Cardo Door business area’s dock loading segment. Hafa is the market leader in Germany, which is the biggest market in terms of sales, as well as in Denmark. The company also has good market positions in France and the UK. After its acquisition of Hafa, Cardo is largest in Europe in dock loading equipment.

In 1999, the acquisition of Hafa is expected to have a marginally positive effect on Cardo group earnings after financial items.

Malmö, June 3 1999

Cardo AB (publ)

About Us

Cardo is a world-leading supplier of industrial doors and logistics systems, wastewater treatment systems, process equipment for the pulp and paper industry and garage doors. Operations are pursued in the Group’s divisions: Door & Logistics Solutions, Wastewater Technology Solutions, Pulp & Paper Solutions and Residential Garage Doors. With sales of almost SEK 10 billion and more than 6,000 employees worldwide, Cardo delivers solutions that help to solve some the toughest challenges of our time in the fields of water, transportation and energy. Corporate headquarters are located in Malmö, Sweden.


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