Atle acquires AKA Tempcold

Atle acquires AKA Tempcold Atle acquires AKA Tempcold AB - a company that markets equipment in the refrigeration and air-conditioning segment. The long-term ambition with the acquisition is, with AKA as the base, to create a major, profitable group in the Sector. The deal will have a positive effect on Atle's profit as early as in 1999. AKA Tempcold - which was owned by Hexagon - imports, markets and distributes components for, among other things, refrigeration units, air-conditioning equipment, heat exchangers and compressors. In recent years, AKA Tempcold has also developed its own refrigeration units for sale, particularly in Sweden. AKA Tempcold, which is a large company in its sector, has operations in all the Nordic countries as well as in Poland. In 1998, the company reported sales of SEK 314M, achieved earnings before taxes of SEK 16M and has more than 120 employees. AKA Tempcold will be included in business sector Atle Tjänste & Handel. Stig Karlsson, President of Atle Tjänste & Handel: "The refrigeration market is basically stable and the sector is not particularly sensitive to economic fluctuations. Profitability is high and we see a growth potential for AKA Tempcold, especially in Poland and on the markets which are opening up in other East European countries, in which the need for the modern refrigeration technology that AK Tempcold can offer is very considerable. The long-term objective of the acquisition is, with Tempcold as the base, to create a large and more profitable market-leading group." For Atle Tjänste & Handel the acquisition of AKA Tempcold is yet another step in the business concept with which it operates: to invest in companies with sound growth or restructuring opportunities, with unique concepts or a strong market ATLE AB (Publ) P.O. BOX 7308 S-103 90 STOCKHOLM SWEDEN VISITORS: REGERINGSGATAN 48 TELEPHONE +46-8-506 101 00 TELEFAX +46-8-506 101 10 REGISTERED OFFICE: 556454-8799 2 (3) position and to develop the companies over a number of years before it seeks a new owner for the companies. Within Atle Tjänste & Handel are already to be found Näsström System, HDF- Bolagen, Haglöfs Scandinavia, Orion, Gadelius and - following the merger of Näckrosbuss and SL Buss - the recently-formed Swedish bus group, which operates under the provisional title, Nybuss. Following the acquisition, Atle Tjänste & Handel's annual sales rise to more than SEK 2.3 billion. Stockholm, 4 Mars 1999 Atle AB (publ) For further information, please contact: Stig Karlsson, President of Atle Tjänste & Handel, tel +46 70-641 13 45 Claes Lindkvist, Vice President Acquisitions & Investor Relations, Hexagon, tel +46 418-44 92 00, 70-585 18 67. 3 (3) APPENDIX Atle AB Atle is an investment company which invests in and develops small and medium- size companies which are generally unlisted. Atle's core expertise is business development which includes the ability to find interesting companies, create acquisition situations, and through active and responsible ownership to develop and after a period of time to find new suitable habitats for owned companies. An acquisition is normally made in some form of decisive development phase in connection with the company wishing to expand, a structural deal would be optimal for its future development, etc. As the acquired companies are generally not listed on the stockmarket, and the Group is always playing an active role in their development, Atle is different from the traditional investment company. In connection with Atle entering as an owner, a plan is prepared for when Atle's work will be completed and the Group should sell its holding in the company. This normally takes place within three to seven years. Atle, which was introduced on the stockmarket in 1993, reported 1998 sales of SEK 9.6 billion and has just under 8,000 employees. Since the stockmarket introduction, the number of shareholders has increased to more than 13,000. Operations are carried out in the six business sectors: Atle Karolin Verkstadsindustri, Atle Tjänste & Handel, Atle Miljöteknik, Atle Informationsteknogi, Atle Mergers & Acquisitions and Atle Företagskapital. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/03/04/19990304BIT00170/bit0001.doc http://www.bit.se/bitonline/1999/03/04/19990304BIT00170/bit0002.pdf