Graninge acquires Kährs' cogeneration plant in Nybro

Graninge acquires Kährs' cogeneration plant in Nybro Graninge has signed an agreement to acquire the Energy business area of the flooring manufacturer AB Gustaf Kähr. The business area includes a cogeneration plant for production of electricity and heating and a facility for production of wood fuel. At the same time, Graninge will take over deliveries of electricity and heating to the factory in Nybro. The transaction will be completed before year-end. Graninge Kalmar Energi and Kährs have a long-standing collaboration. The flooring factory in Nybro supplies the municipality of Kalmar with wood waste for production of district heating. Only two years ago, the parties signed an agreement for delivery of more than 45,000 tonnes of wood fuel annually - an agreement that runs for another four years. "We see the acquisition as a natural progression of the fine collaboration we have enjoyed with Kährs over the years", says Ulf Gunnarsson, Head of Graninge's District Heating business area and Managing Director of Graninge Kalmar Energi: "This long-term collaboration will enable us to further strengthen our position as a leading energy company. It also increases the scope for new ventures in the Nybro and Kalmar region", adds a pleased Ulf Gunnarsson. "I am convinced that the new owner of the cogeneration plant can better exploit the potential it offers", says Lennart Orsander, Acting Managing Director and CEO of Kährs: "Through this transaction we will also secure a long-term solution in which Graninge will continue to use biofuel from Kährs." The Energy business area has 18 employees that handle operation and maintenance of the cogeneration plant in Nybro, all of whom will be transferred to the new owner. The cogeneration plant supplies both heating to the AB Gustaf Kährs factory and district heating to the residents of Nybro. Graninge Kalmar Energi has around 100 employees and an annual turnover of approx. MSEK 360. For additional information contact: Ulf Gunnarsson, Managing Director, Graninge Kalmar Energi, +46 70 512 51 70 Kalle Karlsson, Corporate Communications Director, Graninge AB, +46 70 683 4343 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/12/16/20021216BIT00840/wkr0001.doc http://www.waymaker.net/bitonline/2002/12/16/20021216BIT00840/wkr0002.pdf