Nordisk Renting acquires Norwegian logistics centre in co-operation with Dahl for SEK 110m

Nordisk Renting acquires Norwegian logistics centre in co-operation with Dahl for SEK 110m Nordisk Renting AB together with Dahl, the Nordic leading trading company for plumbing products, have reached an agreement regarding the acquisition of a logistics centre outside Oslo, Norway. A 14-year leasing contract has been signed and the total investment amounts to approximately SEK 110 million. Nordisk Renting already leases properties to Dahl in both Finland and in Sweden. Mats Norberg, CFO of the Dahl Group, says that renting is the main option for Dahl when it comes to strategic properties: "Long leases in combination with an option to acquire the properties provide us with both safety and flexibility. The co-operation with Nordisk Renting not only helps us avoiding tying up capital in our properties, but also makes it easier for us to make running investments", says Mats Norberg. The property, which serves as a warehouse, was built in 1998 and includes two separate buildings with a total area of approximately 20,000 square metres. It has a strategic location in a well-established industrial park in Ski, which is situated just by the E6 motorway 20 kilometres south of Oslo. The park is dominated by logistic centres and several leading retailers have chosen to locate their warehousing activities in the area. Dahl is the Nordic region's leading wholesale and trading group within heating, ventilation, sanitation, water and sewer supply and pipe products. Since May 2004, Dahl is part of the French industrial group Saint-Gobain, which had a turnover of EUR 30 billion in 2003. Dahl is market leading in several of its markets and the group is represented in Sweden, Norway, Denmark, Finland, Poland and Estonia. "We are delighted to further extend our long-term co-operation with Dahl. We are also very pleased to having been able to adapt this most recent agreement in order to meet the international accounting demands of Saint-Gobain", says Reinhold Geijer, CEO of Nordisk Renting. For further information, please contact: Reinhold Geijer, President & CEO, Nordisk Renting AB, tel +46 8 506 198 00 Eva Hemb, CFO, Dahl International AB, tel +46 (8) 764 22 00 Nordisk Renting enables financially strong companies and public sector organisations to focus more on their core business, by offering long-term leasing solutions. By leasing rather than owning property, the customers create room to expand and develop their regular operations. Nordisk Renting has a balance sheet total of approximately SEK 19 billion, and its domestic market is the Nordic region. Nordisk Renting is owned by The Royal Bank of Scotland Group, one of the world's largest Financial Services Groups and the leading European player in Structured Finance. Read more at www.nordiskrenting.se or www.rbs.co.uk ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/10/27/20041027BIT20640/wkr0001.pdf