Atle - together with Nordic Capital and others - forms the third largest bed manufacturer in Europe.STOCKHOLM Stockholm (stŏk`hôlm'), city (1995 pop. 692,954), capital of Sweden and of Stockholm co., E Sweden, situated where Lake Mälaren flows into the Baltic Sea. , Sweden--(BUSINESS WIRE)--Oct. 21, 1998--Through its ownership in both Hilding Hil´ding n. 1. A base, menial wretch. Anders and Apax, Atle - together with the other stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. : Nordic Capital, the Adolfsson, Hultman and Conradsson families, and Skandia Investment - forms the third largest bed manufacturer in Europe. The annual sales rate amounts to just under SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1 billion (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 126m) , earnings before financial income and expenses, and goodwill to approximately SEK 110M (USD 14m), and annual production to 700,000 beds and with more than 500 employees. The new Group will be named Hilding Anders AB. Atle becomes the largest owner with 36 per cent. The Group is expected to be listed on the stockmarket within two years. The transaction is subject to the approval of the Competition Authority involved. The new Group Hilding Anders AB will have operations in Sweden, Finland, Denmark, Norway, Estonia and Lithuania. Bengt Adolfsson will be Managing Director and Apax's Managing Director; Anders Hultman, will be Chairman. The head office will be located in Hastveda in Skane province. The new Hilding Anders will continue to have large sales of Private Labels to, among others, IKEA IKEA Ingvar Kamprad Elmtaryd Agunnaryd (Swedish home furnishings retailer founder's initials and location) , MIO (Modular I/O) A hardware interface for HP printers that is primarily used to plug in an internal print server and network adapter. MIO has been superseded by EIO. See EIO. and Europa Mobler. In addition, the Group will manufacture and market beds with an interior sprung mattress, quilts, pillows, and other bed mattresses under its own brands: Ekens, Hilding, Tibro Badden, Stjarnbadden and Scandi Sleep. The brands are already well-established in the retail segment with complementary positions in various segments on the bed markets in Sweden, Denmark, Finland and Norway. Owners in the new Group will be Atle, 35.6 per cia Nordic Capital, together own 25 per cent. Lars Gardo, Managing Director of Atle: "It is very pleasinin January this year, we stated our plans to cr Through the merger with an equally large aroduction." Bengt Adolfsson, Managing Director of Hilding Anders: "The first target stage for the new Group is to have sales within two years which permanently exceed SEK 1 billion, with a profitability of 8-12 per cent. Within five years, we will be the largest manufacturer in ntly carried-out acquisition of the developmentat Hilding Anders has a very high productivity." |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion