Celsius sells Öresundsvarvet

Celsius sells Öresundsvarvet Celsius has sold its wholly-owned shiprepair yard Öresundsvarvet to the Norwegian shipyard group Fosen Mek. Verksteder (Fosen). Öresundsvarvet has more than 100 employees and carries out shiprepairs, maintenance and conversions. Fosen, situated close to Trondheim, started its shipyard activities in 1918. At present two passenger ferries and one cruise-ship are on order. The shiphulls are being built at Fosen´s subsidiary Bruces Shipyard, located close to Öresundsvarvet in Landskrona in the southern part of Sweden. The sale is consistent with the Celsius Group's policy of strategic consolidation, and has a marginally negative impact on Group earnings. As a result of this deal, Öresundsvarvet gains a competent owner with a long- term perspective, who will be able to further develop the company and its business concept. For further information, please contact Anders Florenius, Vice President/Group Communications, on + 46 (0)8 - 463 00 53 or + 46 (0)70 - 582 32 30 (mobile). ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/02/18/20000218BIT00440/bit0001.doc http://www.bit.se/bitonline/2000/02/18/20000218BIT00440/bit0002.pdf

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