New president named at Isaberg Rapid

New president named at Isaberg Rapid Tommy Backström, B.Sc. Eng., has been named President of Isaberg Rapid, with effect from August 1, 2002. He is currently site manager at Volvo Cars Engine, in Skövde, a position he has held since 1999. Bäckström (born 1947) previously spent nine years with Isaberg Rapid as head of production and logistics, among other positions. Isaberg Rapid's current president, Pelle Holm, will be retiring from the company after 12 successful years. He will continue to serve on Isaberg Rapid's board. "Pelle Holm has grown Isaberg Rapid into a company which, on the international plane and with high profitability, is among the leaders in its industry," comments Carl-Olof By, Chairman of Isaberg Rapid. "At the same time I would like to welcome Tommy Bäckström, whose prior experience makes him well-suited for the task of further strengthening the company's position." Stockholm, Sweden, February 14, 2002 AB INDUSTRIVÄRDEN (publ) For further information, please contact: Carl-Olof By, Executive Vice President and Chief Financial Officer, Industrivärden, and Chairman of Isaberg Rapid, tel. +46-8-666 64 00 Isaberg Rapid is a wholly owned subsidiary of Industrivärden. The company is a European leader in stapling. Its products are sold in more than 100 countries, and more than 90 percent of sales are outside Sweden. Isaberg Rapid has annual sales of approximately SEK 900 M, with good profitability. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/02/14/20020214BIT00950/bit0002.doc http://www.waymaker.net/bitonline/2002/02/14/20020214BIT00950/bit0002.pdf