Acquires 100% of CESAB

Acquires 100% of CESAB BT Industries has acquired the remaining 55% of the shares in the Italian forklift truck manufacturer CESAB. BT has owned 45% of the company since March last year. The acquisition is made in accordance with the agreement announced in conjunction with BT Industries´ Annual Accounts 1999 press release. The seller is the Maccaferri Group, a private Italian industrial group, with 3400 employees and annual sales exceeding SEK 7 billion. According to the agreement, the price will not be revealed. CESAB (pronounced "chesab") is situated in Bologna, Italy with 300 employees and annual sales 1999 of approx. SEK 630 m. The product range The acquisition means that BT complements its manufacturing of warehouse trucks with its own manufacturing of counterbalanced trucks. The product 1 range comprises 3- and 4 wheel electric and IC counterbalance trucks in capacities ranging from 0.8 to 8,5 tonnes. Already during 1999, BT introduced selected models in a number of Western European countries. In addition, activities have begun in order to utilize synergy potentials between BT and CESAB in areas such as component sourcing. Fuel for growth "As pointed out earlier, BT´s ownership of CESAB provides us with fuel for faster growth in Western Europe", says BT Industries´ CEO & President Carl-Erik Ridderstråle, who estimates that the European market for electric counterbalanced trucks is worth around SEK 15 Bn. including after sales activities. "This represents a substantial growth potential in terms of additional sales to existing and new customer groups". "CESAB´s product range is state-of-the art, especially the electric models which are highly competitive. I am fully convinced that CESAB has a very important role to play within BT also after an acquisition of BT by Toyoda". Background BT and CESAB have worked closely together since 1994 when a joint venture was established in Italy for distributing trucks under the BT and CESAB brands. CESAB, founded in 1942, is the longest-standing Italian manufacturer of counterbalance trucks with outstanding knowledge of design and ergonomics. Several similarities exist between warehouse trucks and electric counterbalance trucks in terms of application areas, service and technology. For general questions, please contact PR Manager Göran Skoglund at +46-142-864 09 or +46-70-555 92 88. This press release and other information is also available on BT Industries' WEB-site at www.bt-industries.com. 1 Internal Combustion ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/04/11/20000411BIT01700/bit0001.doc http://www.bit.se/bitonline/2000/04/11/20000411BIT01700/bit0002.pdf