This information is disclosed in accordance with the Securities Markets Act, the Financial Instruments Trading Act or demands made in the exchange rules.
Euromaint has made a strategic decision to focus its business on maintenance for the rail transport sector, and as part of this it has signed an agreement to sell its subsidiary Euromaint Industry to Coor Service Management, for an enterprise value of approximately SEK 100m.
Euromaint provides qualified maintenance services for the rail transport industry and manufacturing industry. Operations are conducted by two subsidiaries, Euromaint Rail and Euromaint Industry. Euromaint is active in a total of 18 locations in Sweden as well as in Germany, Belgium, Poland, the Netherlands and Latvia.
Euromaint Industry is active in industrial maintenance and offers qualified services for production optimisation as well as for automated production equipment and component fabrication. The company has about 300 employees and posted in 2010 sales of approximately SEK 360m.
Commenting on the deal, Hans Pettersson, Chairman of the Board of Euromaint, said: "The Board of Euromaint has made a strategic decision to focus the business on maintenance services for the rail transport industry. The sale of Euromaint Industry is a natural consequence of this decision. Moving forward, Euromaint will focus entirely on strengthening its maintenance programme in its core business in the Nordic countries and the rest of Europe."
Nicklas Falk, CEO of Euromaint Industry, commented: "In recent years, Euromaint Industry has strengthened its industrial position and developed its service offering, despite the downturn in the industrial market. In 2011 we have won many new orders and returned the business to profitability and show a very strong result in the third quarter. Coor Service Management will provide Euromaint Industry the best conditions for continued favourable development and expansion."
The enterprise value of the deal will amount to approximately SEK 100m. The sale is conditional upon approval from the competition authorities and is expected to be completed in the beginning of December 2011.
Coor Service Management is Nordic service management company and had sales of SEK 6.3bn in 2010 and approximately 4,300 employees in the Nordic countries.
For further information, please contact:
Arne Karlsson, CEO, Ratos, +46 8 700 17 00
Hans Pettersson, Chairman of the Board, Euromaint, +358 50 38 52 064
Nicklas Falk, CEO, Euromaint Industry, +46 70 762 50 34
Emma Rheborg, Head of Corporate Communications and IR, Ratos, +46 8 700 17 20