Gränges is changing its name to Sapa
Gränges is changing its name to Sapa A Special General Meeting of shareholders of Gränges today approved to change the name of the Group from Gränges to Sapa. The name change will support and clarify the values and the core operations on which the Group focuses today. The Sapa name is already used within the Group as the principal brand for our operations in the aluminium extrusions area. Sapa was established as recently as 1963 and is perceived as one of Sweden's most successful corporations during recent decades. In its brief 35-year history, Sapa has developed to become Europe's leading independent company in the development, production and further processing of extruded aluminium profiles. Today, Sapa accounts for 60 percent of the Group's sales and 70 percent of total earnings. "Even for a relative new Gränges-employee like myself, it hasn't been an easy matter to propose that the Gränges flag now be finally lowered. However, my colleagues and I are convinced that the decision to change the corporate name from Gränges to Sapa is a correct decision. It will contribute to the company and its values enjoying even greater success and development," says Staffan Bohman, CEO. The formal change of name will take place in mid-February, when the Group's new visual identity will be presented and communicated, initially to customers and employees. The President's Address to the Shareholders is available on Gränges homepage www.graenges.se under Financial Information - General Meeting. For further information please contact Staffan Bohman, CEO, tel +46-8-459 5910, Claes-R. Simonson, EVP, tel +46-8-459 5914 or Cecilia Lager, IR & Communication, tel +46-8-459 5941. Gränges is an international industrial group focused on value-added products based on the light materials aluminium and plastics. The products range from extrusions, heat transfer material to components and systems in plastics to the transport industry. The group is one of Europe leading companies within its field serving the customer segments engineering, telecom, transportation and construction. Gränges is quoted on the OM Stockholm Exchange "A-list". Visit Gränges web site on the Internet: www.graenges.se ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/01/20/20000120BIT00210/bit0001.doc http://www.bit.se/bitonline/2000/01/20/20000120BIT00210/bit0002.pdf