Karlshamns acquires technical oils from Aarhus Olie

Karlshamns subsidiary Binol AB and Aarhus Olie have reached an agreement to the effect that Karlshamns acquires Aarhus Olie’s operations in the technical oils segment. The take-over is expected to come into effect as of 1 May 2003. The acquisition strengthens Binol’s position as world leader within vegetable oils for technical applications. The Aarhus Olie product range is currently marketed under the brand name Vegeol, and largely matches Karlshamns own. The acquisition also includes new technology, however. The majority of Aarhus Olie’s customers are found on the Danish, Swedish and Northern European markets. The acquisition is in line with Karlshamns strategic focus on vegetable, eco-friendly oils for customer segments like the metalworking, forestry and construction industries. Only last year Binol signed a global distribution agreement with Shell. In the same period, a European distribution network for vegetable sawband oils was established. For further information please contact Magnus Jörsmo, President of Binol AB, telephone +46 (0)454-828 28, mobile +46 (0)73- 973 5828; or Karlshamns CIO Bo Svensson, telephone +46 (0)454- 821 93, mobile +46 (0)708- 182 193. E-mail: binol@karlshamns.se. Internet : www.karlshamns.com