Strategic Alliance in Brazil
LATASA is the largest Latin American can manufacturer and is today operating the most successful aluminum used beverage container (UBC) collection system in Latin America. TOMRA and LATASA will form a new company, TOMRA LATASA Reciclagem S.A, for operation of LATASAs current activities in Brazil, Chile and Argentina. The agreement includes an investment from TOMRA of USD 28 million for a 70% ownership interest in the new company. Estimated revenues for 10 months in 2001 is in the range of USD 33 million. Future growth opportunities in the market are expected to be significant.
Asker, 8 March 2001
TOMRA SYSTEMS ASA
Erik Thorsen
President & CEO
Questions can be directed to <br>VP Finance, Espen Gundersen, at telephone +47 6679 9100. <br>