Ratos's associated company Atle Industri has signed an agreement to sell its wholly owned subsidiary Moving Hjulex to Addtech Transmission, a business area within Addtech AB.
Moving Hjulex's operations comprise sales of wheels, castors and gravity conveyors to OEMs and distributors, primarily in the Nordic region. Sales in 2007 are expected to amount to SEK 45m.
The company is part of Atle Industri, which is owned jointly by Ratos and 3i (50/50), which develops its holdings and then finds new owners for them when the time is right. For Ratos, the sale will result in a gain of SEK 8m.
Hans Åke Norås, CEO of Atle Industri, comments on today's deal: "Moving Hjulex has shown positive development and I am convinced that this trend will continue together with Addtech since the acquisition of Moving Hjulex provides a good complement to its existing operations."
After the divestment Atle Industri comprises the two wholly owned companies Moving (materials handling systems) and Nordhydraulic (hydraulic valves).
For further information, please contact:
Hans Åke Norås, CEO Atle Industri, +46 703 280 280
Thomas Mossberg, Executive Vice President Ratos, +46 707 28 33 88
Clara Bolinder-Lundberg, Head of Corporate Communications Ratos, +46 707 19 84 43