Electrolux sells Ballingslöv to Scandinavian Equity Partners Ltd

Electrolux has signed an agreement to sell its kitchen and bathroom cabinet activity to Scandinavian Equity Partners Ltd. (SEP). SEP is an investment company that invests in medium-sized Nordic companies that have a good potential for development. The kitchen- and bathroom cabinet business consists of Ballingslöv AB in Sweden, Dansk Formpladeindustri A/S in Denmark and the division Paula Rosa in England, all in leading positions in their segments in Scandinavia and England. Sales in 1997 totaled approximately SEK 675 million. Ballingslöv has manufacturing facilities in Sweden, Denmark and England, and has 700 employees, 315 of whom are in Sweden. The sale will become effective July 1, 1998, following the approval of the Swedish Competition Authority. The divestment is in line with the Group's efforts to focus its activities on the three core business areas: Household Appliances, Outdoor Products, and Professional Appliances. In the beginning of June, Electrolux announced that it had sold the American business for kitchen and bathroom cabinets, Schrock Cabinet Co to the American company, Fortune Brands. More information: For more information, please contact Hans G. Bäckman, senior executive vice president, AB Electrolux, tel. 46-70-652 34 80. Electrolux press office is available at 46-8-657 65 07. Contact person for Scandinavian Equity Partners Ltd.: Conni Jonsson, president, EQT Partners AB, tel. 46-70 514 2199. EQT Partners AB are investment advisors to Scandinavian Equity Partners Ltd.