Atle acquires Danish materials handling company

Atle acquires Danish materials handling company Moving AB, a subsidiary within the business area Atle Karolin Verkstadsindustri, has concluded an agreement to acquire the Danish company, ITS-Comstore A/S, a company focused on materials handling systems for warehouses and distribution of goods such as clothing and foods. The purchase comprises yet another step of Atle Karolin Verkstadsindustri's focus on the materials handling segment. ITS-Comstore is expected to have net sales of about SEK 90M in 1998. The equivalent figure for Moving is about SEK 260M. The acquisition will have a favourable impact on Atle's profit already in 1998. ITS-Comstore is active on the European market within sales and planning of materials handling systems for automatic handling and sorting. As a result of the acquisition, Moving strengthens its role as a system supplier, and broadens its customer base in Europe, at the same time that the company receives expertise in new fields. Björn Hessle, CEO Moving: "ITS-Comstore is a well-known company with a high proportion of exports. Moving, which previously had its own operations in Norway and Great Britain, now gains a natural gateway in Denmark, as well as on other markets where ITS-Comstore is a well-known name." Bo Ulvàn, CEO Atle Karolin Verkstadsindustri: "Moving has developed successfully during recent years, both organically and through several company acquisitions. The ITS-Comstore purchase comprises yet another step in the business area Atle Karolin Verkstadsindustri's project of developing the company in the field of materials handling." Stockholm 1 September 1998 Atle AB (publ) For more information please contact: Hans Werner, Dep CEO, Atle Karolin Verkstadsindustri AB, phone +46 8 678 16 10 Björn Hessle, CEO Moving AB; phone +46 42 560 00 ATLE AB (Publ) P.O. BOX 7308 S-103 90 STOCKHOLM SWEDEN VISITORS: REGERINGSGATAN 48 TELEPHONE +46-8-24 62 10 TELEFAX +46-8-21 10 21 REGISTERED OFFICE: 556454-8799 2 (2) Fact Sheet Atle AB Atle is an investment company that invests in and develops small and medium- sized companies which are usually unlisted. Atle's core competence is business development, which includes the ability to find interesting companies, create acquisition situations and through an active and responsible process develop and with time find new suitable homes for the purchased companies. Atle, which was listed in 1993, has an annual turnover of about SEK 9 billion, and a total of 7,000 employees. Since it was listed, the number of shareholders has risen to over 10,000. Operations are run in the seven business segments: Atle Karolin Verkstadsindustri, Atle Tjänste & Handel, Atle Miljöteknik, Atle Livsmedelsprodukter, Atle Mergers & Acquisitions and Atle Development. Atle Karolin Verkstadsindustri AB: Atle Karolin Verkstadsindustri - a business area within Atle AB - contains about 10 subsidiaries focused on the area of materials handling. Total invoiced sales for the business area amounts to about SEK 3,100M, of which 75 per cent is billed abroad. ITS-Comstore A/S: ITS-Comstore is a Danish materials handling company that delivers products and systems for warehouses and distribution. The company has net sales of about SEK 90M, the majority of which is export sales. ITS-Comstore offers complete system solutions for handling, storage and order picking of fashion goods, foods, pharmaceuticals, and various consumer products. The company's product line includes overhead conveyors, sorting facilities, equipment for handling plastic crates and components for warehouse fixtures. Moving AB: Moving, with net sales prior to the acquisition of SEK 260M, is one of the market leaders for automatic materials handling for production, storage and distribution. Customers are found within trade and industry. The product line includes conveyors, palletizers, automatic cranes and forklifts, as well as wheels and casters. Moving has its own sales organization in Sweden, Norway and Great Britain. Export sales amount to 25 percent of total sales.