• news.cision.com/
  • Apetit Oyj/
  • LÄNNEN TEHTAAT TO STRENGTHEN ITS POSITION ON NORWEGIAN AND SWEDISH FISH MARKETS BY INCREASING HOLDING IN SANDANGER AS

LÄNNEN TEHTAAT TO STRENGTHEN ITS POSITION ON NORWEGIAN AND SWEDISH FISH MARKETS BY INCREASING HOLDING IN SANDANGER AS

Report this content
LÄNNEN TEHTAAT PLC     RELEASE August 30, 2007 at 11;30 a.m.                      

LÄNNEN TEHTAAT TO STRENGTHEN ITS POSITION ON NORWEGIAN AND SWEDISH FISH MARKETS 
BY INCREASING HOLDING IN SANDANGER AS                                           

Maritim Food AS, a Norwegian subsidiary of Lännen Tehtaat plc, has decided to   
avail itself of an option to purchase shares in the fish-processing company     
Sandanger AS. Maritim Food AS will purchase 3.5% of Sandanger AS's shares in    
accordance with the option agreement. The forthcoming transaction will make     
Maritim Food the majority shareholder in Sandanger AS, with its holding rising  
to 51%. Sandanger AS will be incorporated into the Lännen Tehtaat Group on      
August 31, 2007.                                                                

Sandanger AS's net sales in 2006 totalled about EUR 11 million and the operating
profit was about EUR 0.5 million. The average number of people working at the   
company was approximately 60. Sandanger AS, which focuses on canned fish        
products, processed fish products and ready meals, has a modern production plant
at Gjerdsvika in western Norway. The company manufactures products both under   
its own Sunnmöre brand and under retailers' own brands. The company's customers 
include retail group and the hotel/restaurant/catering sector. Sandanger's      
product range will suitably complement Maritim Food's selection on the Norwegian
and Swedish markets.                                                            

The Fish Business is one of Lännen Tehtaat's strategic focus areas. The Group   
has increased the Fish Business's operations through corporate acquisitions in  
Finland, Norway and Sweden, the aim being the achievement of a strong position  
in the northern Baltic region.                                                  

LÄNNEN TEHTAAT PLC                                                              
Matti Karppinen                                                                 
CEO                                                                             

More details:                                                                   
Matti Karppinen, CEO, Lännen Tehtaat plc, tel. +358 10 402 00                   

Distribution:                                                                   
Helsinki Stock Exchange                                                         
Main media                                                                      
www.lannen.fi

Subscribe