BE Group is closing the Danish operation

BE Group, the Nordic region’s leading independent trading and service company in steel, stainless steel and aluminium, is closing its operation in Denmark. It consists of a sales office in Copenhagen with seven employees.

The decision to close the operation in Denmark has been motivated by the profit development in recent years.

“The Danish operation has not developed as we had expected. The difference in the structure of the business compared with our other markets also contributed to the decision,” says Roger Johansson, President and CEO of BE Group. “We are resolute in focusing our resources to those markets where we see the greatest potential for profitable growth, and that simply is not the case in Denmark.”

The Danish operation will be closed with immediate effect. The total cost for the closure is estimated at approximately SEK 4M, which will be charged against earnings for the first quarter of 2011.

Roger Johansson, President and CEO, BE Group
Tel. 46 (0)733 188 758, e-mail: roger.johansson@begroup.com

Torbjörn Clementz, CFO and Executive Vice President 
Tel. 46 (0)70 869 07 88, e-mail: torbjorn.clementz@begroup.com

BE Group, listed on the Nasdaq OMX Stockholm since November 2006, is one of the leading trading and service companies for steel and other metals in Europe. The Group has about 10,000 customers, primarily in the construction and engineering industries. BE Group provides various forms of service for steel, stainless steel and aluminium applications. In 2010, the company reported sales totaling SEK 5.1billion. BE Group has about 900 employees in nine countries in northern Europe, where Sweden and Finland are its largest markets. The head office is located in Malmö, Sweden. Read more about BE Group at www.begroup.com

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