Petter Arvidson has been appointed as the new CEO of Ratos's associated company Intervect. He succeeds Anders Nordwall who retired in January 2003.
Petter Arvidson has a master's degree in engineering and has had a long career in the Asea/ABB Group, most recently as president of ABB Utilities AB. In the ABB Group he has held a number of leading positions both in Sweden and abroad, including senior vice president and Head of Division within ABB in Sweden and a business areas head within the global ABB Group.
"I see realising the Intervect Group's profitability targets as an exciting challenge," says Petter Arvidson, commenting on his new appointment.
Intervect is a world leader in development, manufacture and sales of rack and pinion driven hoists and platforms for vertical transport of personnel, material and machines. The main customer segments are the construction, offshore and general industry. Intervect includes the Swedish lift manufacturer Alimak and the Dutch platform manufacturer HEK. Sales are conducted through some 15 wholly owned sales companies and a large number of distributors.
Sales for 2002 totalled approximately SEK 1.1 billion (1.2).
For additional information, please contact:
Bo Jungner, Senior Investment Manager Ratos, +46 8 700 17 00
Björn Kumlin, Chairman of Intervect, +46 18 60 61 50
Petter Arvidsson, +46 18 60 61 50