Indutrade acquires Finnish company Kontram
Indutrade acquires Finnish trading company Kontram Indutrade, a wholly owned subsidiary of Industrivärden, has acquired the Finnish company Kontram Oy, a leading trading company in industrial automation in Finland. The sellers are Martnok Oy and Kontram's president, Jorma Kuivalainen. Kontram had sales of roughly SEK 160 M in 2002, with good profitability. The deal also includes Maansähkö Oy, a service company for Kontram. The acquisitions are a natural step in the further development of Indutrade's Electrical Components and Flow Control technology areas. Indutrade, one of Sweden's largest trading groups in industrial components, comprises some fifty companies with approximately 1,400 employees. Sales in 2002 amounted to SEK 3.1 billion, and pretax earnings were SEK 181 M. Its business concept is to supply Swedish industry with imported components and qualified technical system solutions. The main markets are the Nordic countries, the Baltic countries, Russia, Germany and the Benelux countries. During the past decade Indutrade has undergone strong expansion through organic growth as well as through continuous acquisitions. Kontram works in two of business areas, Process and Drive & Electric. The business is highly diversified, with strong customer and supplier relations. The company focuses on high-tech products and system solutions. Additional information can be found on Kontram's website: www.kontram.fi. Stockholm, Sweden, May 23, 2003 INDUTRADE AB For further information, please contact: Gunnar Tindberg, President, Indutrade, tel. +46-8-703 02 00 Indutrade is a trading company whose business concept is to provide imported components to industrial companies in Sweden with a recurring need, and in connection with this, to offer qualified, technical system solutions. The group comprises some 50 independent agency companies in the Nordic countries, the Baltic countries, Russia, Germany and the Benelux countries. Indutrade is a wholly owned subsidiary of Industrivärden. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/05/23/20030523BIT00410/wkr0001.doc http://www.waymaker.net/bitonline/2003/05/23/20030523BIT00410/wkr0002.pdf