Atle Acquires 28% of the Balco Group.Business Editors STOCKHOLM, Sweden--(BUSINESS WIRE)--Jan. 15, 2001 -- Atle is acquiring 28% of the high-growth balcony Balcony (from Italian balcone, scaffold; cf. High German balcho, beam, balk; probably cognate with Persian term بالكانه bālkāneh or its older variant manufacturer Balco for a price of 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. 30 m. This transaction is being effected by purchasing shares from the present owners and a private placement. -- Balco, which has registered yearly growth of 25% for the last five years, is assessed to enjoy a very sizeable expansion potential. The enterprise forecasts earnings of approximately SEK 17 m from yearly sales of some SEK 180 m. The corporation, founded in 1987, has developed a complete concept for balconies and glazing Glazing The application of finely ground glass, or glass-forming materials, or a mixture of both, to a ceramic body and heating (firing) to a temperature where the material or materials melt, forming a coating of glass on the surface of the ware. balconies, which includes unique solutions for fittings, airing, ventilation ventilation, process of supplying fresh air to an enclosed space and removing from it air contaminated by odors, gases, or smoke. Proper ventilation requires also that there be a movement or circulation of the air within the space and that the temperature and , drainage drainage, in agriculture drainage, in agriculture, the removal of excess water from the soil, either by a system of surface ditches, or by underground conduits if required by soil conditions and land contour. and extending balcony tiling. Balco project manages, manufactures and fits new balconies on site. Several of the solutions Balco has developed are patented and have registered designs. The enterprise's customers are property owners and tenant-owner associations that wish to enhance housing environments. Balco, with head offices and production in Vaxjo, southern Sweden, enjoys a dominant market position in Sweden, but also benefits from burgeoning foreign sales through subsidiaries, mainly in Norway and Germany. At present, 75% of Balco's production is exported. Lennart Eriksson, Atle Industri's Deputy Chief Executive, commented: "Atle's commitment signposts our concentration on sustained brisk Brisk as a proper name may refer to:
In response, Lars Bjorkman, Balco's Group Chief Executive, said: "We're very pleased and proud to gain Atle as a partner in Balco AB. Balco is on the verge On the Verge (or The Geography of Yearning) is a play written by Eric Overmyer. It makes extensive use of esoteric language and pop culture references from the late nineteenth century to 1955. of robust expansion, and with Atle as a partner, the enterprise gains the expertise and strength that will allow us to respond to the accentuated demand for our products from a secure and confident position." Stockholm, Sweden 15 January 2001 Atle AB (publ) Atle - Key Facts Atle is a growth company that intends to be 2-3 times its current size in 5 years' time. Atle is a private equity player, investing in unlisted companies, participating actively in their development, and after a few years, finding them a suitable new home, thereby realising value growth. Since 1993, the Atle group's earnings have risen progressively, from SEK 373 m to SEK 1,025 m in 1999. Atle maintains a brisk transaction tempo tempo [Ital.,=time], in music, the speed of a composition. The composer's intentions as to tempo are conventionally indicated by a set of Italian terms, of which the principal ones are presto (very fast), vivace (lively), allegro (fast), , acquiring over 20 enterprises across all sectors each year. Since inception in 1992, Atle has invested in approximately 200 businesses and exited from over 100. Its annual return from these exits has been nearly 50%. Atle is quoted on the Stockholm Stock Exchange's A List and has approximately 17,000 shareholders ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. : http://www.bit.se/bitonline/2001/01/15/20010115BIT00180/bit0001.doc http://www.bit.se/bitonline/2001/01/15/20010115BIT00180/bit0002.pdf |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion