Hexagon sells AKA's refrigeration operations

Hexagon sells AKA's refrigeration operations * Capital gains amount to more than MSEK 20 after tax * Purchase price and repayment of loan release a total of MSEK 152 * The reason for the disposal of these operations is strategic and makes possible focusing on efforts within AKA's priority product areas and expansion in Eeastern Europe Hexagon AB has today disposed of AKA's refrigeration operations, AKA Tempcold AB, to Atle AB. AKA Tempcold AB constituted the refrigeration operations of AKA Industriprodukter AB and conducts wholesale refrigeration operations in the Nordic countries and also installation work in Poland. AKA Tempcold AB has its head office in Bromma, Stockholm, and has a workforce of 128 in Denmark, Finland, Norway, Poland and Sweden. In 1998, the company had a turnover of MSEK 314. AKA Industriprodukter is one of the leading technology trading companies in Finland and, in recent years, has built up a strong position in the Baltic states and in Russia. Growth in these countries is determined in the long term as good within the product areas which remain in AKA after the disposal of the refrigeration operations. "The disposal of AKA's refrigeration operations is a part of AKA Industriprodukter's strategy of concentrating on developing the remaining operations within AKA Industriprodukter", says Per Söderman, CEO of AKA Industriprodukter. "This will be put into effect by acquisitions in the Nordic countries, and expansion above all by organic growth in the former Eastern bloc countries." AKA Industriprodukter is a technology trading company with operations in the Nordic countries, the Baltic states and Russia. Turnover in 1999 is expected to amount to approx. MSEK 600 after the sale of AKA Tempcold AB. AKA Industriprodukter is a wholly owned subsidiary of Hexagon AB. Hexagon is an industrial and commercial group whose business concept is to acquire and long-term develop medium-sized industrial companies. The company is listed on the Stockholm Stock Exchange and turnover in 1998 amounted to SEK 4.9 billion. The disposal of AKA Tempcold AB entails capital gains of MSEK 20 after tax and favourably affects earnings per share by approx. SEK 1.20 in 1999. Alfred Berg acted in an advisory capacity to Hexagon in the sales process. Landskrona, Sweden, 4 March 1999 HEXAGON AB (publ) Börje Andersson President and CEO For further information, please contact: Claes Lindkvist, Vice President Acquisitions & Investor Relations, Hexagon, Tel. No. +418-44 92 00, +70-585 18 67 Per Söderman, VD, AKA Industriprodukter, Tel. No. +358 9 547 701, +358 500 216 389 Stig Karlsson, VD, Atle Tjänste & Handel AB, Tel. No. +8-506 101 141, +70-641 13 45 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/03/04/19990304BIT00220/bit0001.doc http://www.bit.se/bitonline/1999/03/04/19990304BIT00220/bit0002.pdf