In September, Hans Åke Norås will take up his position as CEO of Atle Industri - one of the major holdings in private equity company Ratos's portfolio.
Hans Åke Norås has sound experience of working with companies from an owner perspective. As a consultant for the Atle Group he managed a number of turnaround assignments in recent years. In the 1990s Norås worked within the Securum Group where he was responsible for the Group's reconstruction and for divestment of a number of trading and industrial companies. Previously he also worked at SSAB and was CEO of Leksells AB. Norås will succeed Bo Ulván upon his retirement.
"The assignment of CEO of Atle Industri is well in line with my previous activities, says Hans Åke Norås. "The Group's owners have given me a clear mandate to create new value in partnership with executives of the Atle Industri Group."
Atle Industri, which is 50% owned by Ratos, comprises a portfolio of 15 companies with operations in trading, engineering, waste management and IT/technology. The companies include AKA Tempcold (distributes cooling products), Näsström (hydraulic products wholesaler), Moving (materials handling systems), Nordhydraulic (hydraulic valves), Elpress (electrical connectors), Pressmaster Tool (crimping tools) and Envac Centralsug (waste management systems).
In 2001 the Group's sales totalled SEK 2.4 billion with a loss before tax of SEK 28m. Action programmes which are expected to have an impact in the current year have been introduced in several of the companies.
For additional information, please contact:
Hans Åke Norås, CEO designate of Atle Industri, +46 70 328 02 80
Thomas Mossberg, Senior Investment Manager and Deputy CEO of Ratos, +46 8 700 17 00