Electrolux to acquire American diamond tool manufacturer Cushion Cut

Electrolux to acquire American diamond tool manufacturer Cushion Cut (ELUX) Dimas, a part of the Electrolux Group, has agreed to acquire Cushion Cut from Boart Longyear Company. Cushion Cut is an American manufacturer and distributor of diamond tools and equipment for the construction industry. Cushion Cut, located in Torrance, California, USA, currently employs 95 people. Sales in 2000 are estimated to USD 25 million. The company will be an integral part of Dimas' diamond tool and equipment business. The acquisition does not include the highway grooving and grinding business operated by Boart Longyear in Oakdale, California. The transaction is effective as of January 1, 2001. "The acquisition of Cushion Cut will be a good complement to our current product line and will give us a nationwide sales organization in the North American market," says Bengt Andersson, Head of Professional Outdoor products. "The acquisition will strengthen Dimas' position as one of the leading global providers of diamond tools and related equipment." Dimas belongs to the Industrial product line within Professional Outdoor products. The product line manufactures a wide range of diamond tools and equipment for cutting, grooving and drilling hard materials such as concrete, stone and asphalt. After the acquisition of Cushion Cut, the product line's annual sales will be approximately SEK 1.35 billion and the number of employees 600. Electrolux is the world's largest producer of powered appliances for kitchen, cleaning and outdoor use, such as refrigerators, washing machines, cookers, vacuum cleaners, chain saws, lawn mowers, and garden tractors. In 1999, Group sales were SEK 120 billion and the Group had 93,000 employees. Every year, customers in more than 150 countries buy more than 55 million Electrolux Group products for both consumer and professional use. The Electrolux Group includes famous appliance brands such as AEG, Zanussi, Frigidaire, Eureka, and Husqvarna. Further information For further information please contact Anders Ströby, Head of the product line Industrial Products, at +46 70 594 90 09 or +46 31-94 90 09. The Electrolux Press Hotline is available at +46 8 657 65 07. For cancellation of or changes to this fax distribution service, please return this document, with your name, company, and fax number, stating what you want to change, to fax no +46 8 738 74 61. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/12/29/20001229BIT00250/bit0001.doc http://www.bit.se/bitonline/2000/12/29/20001229BIT00250/bit0002.pdf