Nobia appoints new Business Unit Manager for Magnet

Nobia has appointed Preben Bager as its new Business Unit Manager at Magnet in the UK.
 
Preben Bager is currently the Business Unit Manager at Danish HTH, which is part of the Group. He is also a member of Nobia's Group management as Vice President Operations. Preben Bager has extensive experience of the kitchens industry and retail in many countries. He was appointed Business Unit Manager at HTH in 1992 and has developed HTH into a very successful company.
 
Preben Bager will assume his position with immediate effect and will remain as Business Unit Manager at HTH until further notice. He replaces Gary Favell who has decided to resign from Magnet.
 
"I am very pleased that Preben Bager is assuming responsibility for Magnet. He has done a fantastic job at HTH and his experience from that company will be of great benefit for Magnet. I would also like to thank Gary Favell for his many years of service at Magnet," says Fredrik Cappelen, President and CEO of Nobia.
 
"The strategy for Magnet remains unchanged. The work to upgrade the store network and improve the manufacturing platform continues while the pace of improving efficiency and margins will be accelerated."
 
 
Nobia AB
26 October 2004
 
 
For further information please contact:
 
Fredrik Cappelen, President and CEO, tel. +46 (0)8 440 16 00

About Us

Nobia develops and sells kitchen solutions through a number of strong brands in Europe, including Magnet in the UK; HTH, Norema, Sigdal, Invita and Marbodal in Scandinavia; Petra and A la Carte in Finland; as well as ewe, Intuo and FM in Austria. Nobia generates profitability by combining economies of scale with attractive kitchen offerings. The Group has approximately 6,100 employees and had net sales of about SEK 13 billion. The share is listed on Nasdaq Stockholm under the ticker NOBI. Website: www.nobia.com

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