Nordstjernan acquires leading packaging company from Tetra Laval

Nordstjernan acquires leading packaging company from Tetra Laval -Nordstjernan is acquiring four companies; Norden Pac, Kalix, Citus and ADMV, and is creating a new international packaging machinery group, Sirius Machinery -Nordstjernan is acquiring the fast-growing injection moulding group GP Plastindustri -The companies turned over approximately EUR 85 million in 2003 and have around 500 staff Nordstjernan is acquiring the bulk of the Health & Beauty division from Tetra Laval's subsidiary Sidel. The businesses acquired will form two independent and wholly owned units within the Nordstjernan group: Sirius Machinery The newly formed Sirius Machinery will comprise Norden Pac in Kalmar (Sweden), the three French companies Kalix in Paris, Citus in Fontainebleau and ADMV in Lyon as well as sales companies in the USA, Great Britain, Germany and France. The companies manufacture various types of packaging machinery for primarily food, medical products, toothpaste and cosmetics. Among other things, tube filling machinery, lipstick filling machinery, cartoning machinery and feed equipment are manufactured. Sirius Machinery is becoming a world leader in tube filling and lipstick filling machinery, and customers include many of the world's leading food and cosmetics companies. The group had a turnover of approximately EUR 62 million in 2003 and has around 400 staff. The Managing Director of Sirius Machinery will be Mats Heiman. Mats Heiman has worked as a management consultant for Booz Allen & Hamilton for the last 10 years. Before that, he held a number of prominent posts within various engineering companies in Sweden, Belgium and France, most recently within Alfa Laval, where he worked for 13 years, including as head of the Flow Equipment division. GP Plastindustri Nordstjernan is acquiring the injection moulding group GP Plastindustri with two production units located in Gislaved (Sweden) and Dresden (Germany). The production facility in Dresden will be taken into service in the first quarter of 2004. GP Plastindustri is a fast-growing group that manufactures various types of injection moulded plastic components, including packing seals. Tetra Pak is GP Plastindustri's largest customer. GP Plastindustri had a turnover of approximately EUR 23 million in 2003 and has around 100 staff. Magnus Heinsjö will continue as Managing Director. Nordstjernan's acquisition of the bulk of Sidel Health & Beauty is conditional, among other things on approval from the competition authorities concerned. The parties have agreed not to publish the purchase price. "We are very pleased with being able to make this transaction and implement the new structure. Nordstjernan will be an active and long- term owner of Sirius Machinery and GP Plastindustri. Sirius Machinery will be a world leader in tube filling and lipstick filling machinery. The intention behind creating the new group is to develop the position as a leading supplier of packaging machinery", explains Nordstjernan's CEO Tomas Billing. "Sidel Health & Beauty is part of the Sidel group acquired by Tetra Laval in 2001. This division is outside Tetra Laval's core business and we have therefore chosen to sell it. We feel that we have found a good new owner in Nordstjernan and look forward to continuing as a customer of GP Plastindustri", asserts Jörgen Haglind, Director Information, Tetra Laval. Any queries can be answered by: Tomas Billing, CEO, +46 8-788 50 18 or +46 70-666 33 46. Nordstjernan is a family-controlled investment company that is intended to create growth in value through long-term and active ownership of its companies. More information on Nordstjernan can be found on www.nordstjernan.se. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/01/14/20040114BIT00090/wkr0001.doc http://www.waymaker.net/bitonline/2004/01/14/20040114BIT00090/wkr0002.pdf