Nolato strengthens its operations in the medical technology sector; Acquires operations from Kaltoplast

Nolato strengthens its operations in the medical technology sector; Acquires operations from Kaltoplast Nolato Medevo, a unit of the Nolato Medical business area of the Nolato Group, is acquiring Kaltoplast's medical technology operations, with Astra Tech - part of the pharmaceutical group AstraZeneca - as the main customer. "The acquisition fits very well into our strategic plan for the development of Nolato Medical," noted Georg Brunstam, Nolato President and CEO. "We regard medical technology as one of the Group's core businesses and will continue to invest aggressively in this field." Kaltoplast's operations for Astra Tech, which Nolato is now taking over, have sales of more than SEK 20 million per year and consist of medical technology products in the urology and surgery fields. Manufacturing occurs in clean rooms with high medical technology standards. "We see Astra Tech as a very interesting customer, with good potential to develop further collaboration," commented Peter Krikström, head of the Nolato Medical business area. Nolato's intention is to move operations for Astra Tech from Kaltoplast in Ängelholm, Sweden, to Nolato Medevo in nearby Torekov. The takeover is occurring by means of an acquisition of assets and liabilities. "We will offer 20 people who have been working with the manufacturing operations in Ängelholm employment with us in Torekov," Mr. Krikström said. In 2003, the Nolato Group's three profit centers - Nolato Telecom, Nolato Industrial and Nolato Medical - reported total sales of about SEK 2.7 billion (nearly USD 360 million). Nolato Medical accounted for about 5 percent but is in a strong growth phase: during the first quarter of 2004, its sales rose by 25 percent. ------------------------------------------------------- For further information, please contact: Georg Brunstam, Nolato President and CEO, telephone +46 431 44 22 94 or mobile phone +46 708 551251 Peter Krikström, President, Nolato Medevo and head of the Nolato Medical business area, telephone +46 431 44 22 14 or mobile phone +46 708 20 88 83 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/06/16/20040616BIT20570/wkr0006.pdf The press release as pdf file