Industrivärden sells subsidiary Rapid Granulator AB
Industrivärden sells subsidiary Rapid Granulator AB Industrivärden has entered into an agreement regarding the sale of all its shares in the wholly owned subsidiary Rapid Granulator, to the American company Sewickley Capital, with a capital gain of approximately SEK 140 M. Rapid Granulator, which manufactures granulators for recycling plastic ma- terial, will give Sewickley Capital state-of-the-art expertise in its product area. The sale is a natural step in Industrivärden's strategy of working as an active owner with a long-term perspective to acquire and refine medium- sized companies. The deal gives Rapid Granulator greater opportunities to develop its unique know-how in the plastics industry. Rapid Granulator, which has about 260 employees, is the European market leader in its area and one of the leaders in the U.S. The company had sales of SEK 340 M in 1998, with good profitability. It has been part of Industrivärden's industrial operation, Inductus, since 1992. Sewickley Capital invests in companies that supply equipment to the plas- tics industry and owns the American company Conair which is a market leader in the U.S. and one of the world's leading system suppliers of equipment to the plastics industry. Sewickley Capital intends to operate Rapid Granulator as an independent company. Stockholm, Sweden, December 16, 1999 AB INDUSTRIVÄRDEN (publ.) For further information, please contact: G. Watts Humphrey, Jr., Chairman, Sewickley Capital, tel. +1 (412) 261-3488 Karl-Valter Fornell, President, Rapid Granulator, tel. +46-370-865 00 Carl A. Caldeira, Managing Director, Rapid Granulator Inc, tel +1 (815) 399-4605 Carl-Olof By, Executive Vice President and CFO, Industrivärden, tel. +46-8-666 64 00 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/12/16/19991216BIT00300/bit0001.doc http://www.bit.se/bitonline/1999/12/16/19991216BIT00300/bit0002.pdf