Indutrade acquires Edeco Tool AB

Indutrade acquires Edeco Tool AB Industrivärden's subsidiary Indutrade has acquired Edeco Tool AB, in Karlstad, Sweden, effective in the end of December 1997. Edeco Tool conducts trade in industrial components - mainly in the metalcutting industry - where it represents a number of leading European manufacturers of cemented carbide tools, metal saw blades, and screw cutting tools. Sales of the acquired company totaled approximately SEK 40 M in 1997, with good profitability. The acquisition is a step in the development of Indutrades metalcutting unit, into which Maanterä of Finland, with annual sales of SEK 50 M, was acquired at the start of 1997. Following these acquisitions, annual sales of Indutrade's metalcutting unit will amount to approximately SEK 150 M. Organizationally, Edeco Tool AB will be a part of Indutrades wholly owned subsidiary Colly Company AB. Indutrade is active in sales of industrial components in Sweden, Finland, Denmark, Norway, Belgium and the Netherlands. Invoiced sales in 1997 amounted to SEK 1.5 billion. Stockholm, Sweden, January 9, 1998 AB INDUSTRIVÄRDEN (publ.) For further information, please contact: Gunnar Tindberg, President, Indutrade, tel. +46 8 703 02 00 Carl-Olof By, Executive Vice President, Industrivärden, tel. +46 8 666 64 00