Ratos's associated company Yarrow has transferred its operations within applications management and development to management employees. The transfer means that the remaining business will be streamlined towards IT infrastructure and receive the name Giga.
The transferred operations, which will keep the name Yarrow, had sales totalling SEK 26m in the first half of 2002 and 62 employees. The transfer represents a capital loss for the new Giga of approximately SEK 17m.
The CEO of the remaining business is Olle Schmidt who was previously president of Yarrow's infrastructure operations. Giga has 50 employees and annual sales of approximately SEK 50m. In 2001 the new Giga reported a pre-tax profit of SEK 1m.
Ratos's holding in the new Giga is 41%.
For further information, please contact:
Arne Karlsson, CEO Ratos, +46 8 700 17 00