Electrolux acquires diamond tool and equipment manufacturer Magnum Diamond & Machinery Inc.
Electrolux acquires diamond tool and equipment manufacturer Magnum Diamond & Machinery Inc. Dimas, a part of the Electrolux Group, has acquired Magnum Diamond & Machinery Inc. Magnum is a respected American manufacturer and distributor of road-saws and diamond tools for the construction market. Magnum, located in Kansas City, Missouri, USA, currently employs 45 people. In 1999 sales were approximately USD 11 million. The company will be an integral part of Dimas' diamond tool and equipment business. The product line Industrial Products, part of Electrolux Professional Outdoor products, is made up of Dimas and Partner Industrial Products, both manufacturers of equipment for cutting, grooving, and drilling hard materials. The product line's annual sales is SEK 1 billion and will after the acquisition employ 550. 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 Product line Industrial Products, phone +46 31-94 90 09 or +46 70-594 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/2000/11/14/20001113BIT00900/bit0001.doc http://www.bit.se/bitonline/2000/11/14/20001113BIT00900/bit0002.pdf