Industrivärden acquires 15% stake in Össur
Industrivärden acquires 15% stake in Össur Industrivärden has acquired 50,000,000 shares, corresponding to 15% of the shares outstanding, in Össur, a leading prosthetic manufacturer. The purchase price was SEK 260 M, or SEK 5.20 per share. Industrivärden's strategy is to invest in large and medium-sized listed Nordic companies with good potential for value growth. Value-added is created through active ownership and a professional investment operation. Through the investment in prosthetics manufacturer Össur, Industrivärden gains a significant position in a company with good profitability and high growth in a fragmented market. The company has a leading position in its niche. "Through professional entrepreneurship and a high level of technical expertise, Össur has successfully carved out a strong position for itself in the development and production of prosthetic products," comments Anders Nyrén, President and CEO of Industrivärden. "The company has great opportunities and is a good investment in an exciting business." Össur is an international manufacturer of prosthetic devices and a leading innovator in the prosthetics market. Its head offices are in Iceland, with subsidiaries in the U.S., the Netherlands and Sweden. Össur reported sales of USD 69 M in 2001, with net earnings of USD 8.6 M. Slightly more than half of sales are derived from the U.S. market. The company allocates roughly 6%-8% of sales to R&D, and its products are protected by vast number of patents around the world. Össur is listed on the Icelandic Stock Exchange (www.ossur.com). Stockholm, Sweden, May 23, 2002 AB INDUSTRIVÄRDEN (publ) For further information, please contact: Anders Nyrén, President and CEO, Industrivärden, tel. +46-8-666 64 00 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/05/23/20020523BIT00520/wkr0001.doc http://www.waymaker.net/bitonline/2002/05/23/20020523BIT00520/wkr0002.pdf