Bong's Acquisition of Bauwens Completed.Business Editors 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)--March 2, 2000 Bong's acquisition of the Wolf-Bauwens/Reinhart Schmidt Group was completed as planned on March 1 st, when the parties signed the final documents in Zug, Switzerland. Bauwens is consequently a member of the Bong Group and will, as previously announced, be consolidated with effect from January 1 st 2000. The integration process is beginning immediately. Following the acquisition the Group will be the leading envelope manufacturer in Europe, with an annual turnover of some SKr 2.5 billion, and some 1,800 employees. The new Group's strong position of leadership on the North European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. market will create valuable opportunities for further expansion and active involvement in the process of structural change that has begun, and is expected to continue within the European envelope industry. In connection with the acquisition of Bauwens, Bong obtained an option to acquire 39 % of EEC EEC: see European Economic Community. , a Belgian Belgian having some relationship to Belgium. Belgian barge dog see schipperke. Belgian black pied cattle black, Belgian dairy cattle. Belgian blue dual-purpose cattle; blue, white or blue roan. envelope manufacturer. Discussions are in progress with other shareholders in EEC, who claimed, following the announcement of the acquisition, to have pre-emptive rights Pre-Emptive Right The right of a company's existing common shareholders to have the first chance to purchase shares in a company's future stock issue. Notes: Also known as "pre-emption rights". See also: Common Stock, No-Par-Value Stock, Stock to these shares in EEC. This claim is now being investigated. Kristianstad, March 2nd 2000 Bong Ljungdahl AB Lennart Pihl For further information, please contact Lennart Pihl, Managing Director and Group Chief Executive, Bong Ljungdahl. Tel: +46 44 20 70 50; mobile: +46 70 594 68 66 . Please visit http://www.bit.se for further information 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/2000/03/02/20000302BIT00580/bit0001.doc http://www.bit.se/bitonline/2000/03/02/20000302BIT00580/bit0002.pdf |
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