Atle Industri is carrying out its fourth divestment this year with the sale of the hydraulic components company Näsström System to Latour-owned Specma Hydraulic. Näsström System's operations complement Specma Hydraulic well. The deal provides Ratos, which owns 50% of Atle Industri, with a positive earnings impact of just over SEK 10m.
Specma Hydraulic's acquisition of Näsström System will create an effective player in the hydraulic components market. Näsström System's focus on aftermarket sales complements Specma Hydraulic's position as an OEM supplier.
Näsström System has approximately 90 employees and 2003 sales totalled SEK 165m. Pre-tax profit reached SEK 3m. Tough action has been taken in recent years to restore the company to profit from earnings of SEK -40m in 2001. The company now has a good base for continued growth and profitability.
"It feels very satisfactory that Näsström System will now be placed in a sound structure that will create opportunities for continued growth," says Atle Industri's CEO Hans Åke Norås. "This deal would not have been possible without the action programmes we carried out. For us at Atle Industri this confirms that our strategy - to focus on value growth in every individual holding - is correct."
Atle Industri has sold four companies in 2004, with the sale of Näsström System the largest by far. Earlier divestments were Hevac wholesaler Bierregaard, IT consultant Navigera and specialist fine wire manufacturer Luma Metall. Following the sale of Näsström, Atle Industri comprises ten companies.
The deal is subject to approval from the competition authorities.
For further information, please contact:
Hans Åke Norås, CEO Atle Industri, +46 703 280 280
Anna-Karin Celsing, Head of Corporate Communications Ratos, +46 70 399 62 39