ProfilGruppen receives compensation for damage in connection with investment in the German company PWG 2006
ProfilGruppen AB has through arbitration been awarded damages of SEK 8.0 million plus interest of approximately SEK 2.8 million, all together approximately SEK 10.8 million. The dispute was regarding deficient advice when ProfilGruppen invested in the German company Profilrollen-Werkzeugbau GmbH&Co.KG, at the end of 2006. Shortly after the investment ProfilGruppen was forced to a write off amounting to SEK 16.4 million, which caused ProfilGruppen to claim the advisor for compensation due to the inadequate due diligence. After deducting the costs incurred, this year's operating profit is