Munters acquires the American competitor Glacier-Cor

Munters acquires the American competitor Glacier-Cor Munters acquires the American competitor Glacier-Cor and further strengthens its position in evaporative cooling. Glacier-Cor is one of the world's largest manufacturers of components in this area with sales of over USD 5 million in 2001. Munters is the world leader. Glacier-Cor is based outside Chicago, USA, and manufactures components for evaporative cooling, which are used in climate control systems for various applications including the poultry industry. Glacier-Cor is a part of Pactiv Corporation, a producer of specialty packaging products which is listed on the New York Stock Exchange. The acquisition includes manufacturing processes and equipment, intellectual property, including brands and ongoing activities. A limited number of Glacier-Cor's key personnel will be employed by Munters. "The Glacier-Cor acquisition extends our customer base and the range of evaporative cooling solutions we offer to various segments, such as power and poultry industry", says Mike McDonald, President of Munters Corporation, USA. The acquisition price is USD 1.9 million and does not contain any goodwill. The acquisition will be consolidated in Munters from January 2002. A positive, though marginal, effect on the results is expected this year. For further information, please contact: Lennart Evrell, CEO Tel: Mob: 08-626 63 03 070-588 15 15 Bernt Ingman, CFO Tel: Mob: 08-626 63 06 070-672 74 54 Sören Sjöström, Tel: Mob: VP Corporate Communication 08-626 63 08 070-600 22 44 Munters is the world leader in humidity control with products and services for dehumidification, humidification and cooling of air. Customers are found in a wide range of segments, the most important being insurance-, utilities-, food-, pharma- and electronics- industries. Manufacturing and sales are carried out via the Group's own companies in more than 25 countries in Europe, Americas, and Asia. The Group has 2,600 employees and net sales of SEK 3,800 million. Munters is listed on Stockholmsbörsen, the Stockholm Stock Exchange. For more information see www.munters.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/01/15/20020115BIT00670/bit0001.doc http://www.waymaker.net/bitonline/2002/01/15/20020115BIT00670/bit0001.pdf