Bong Sells Property to Nordisk Renting For 130 MSEK.Business Editors KRISTIANSTAD, Sweden--(BUSINESS WIRE)--Sept. 18, 2000 Bong announces the sale of three properties for in total 130 MSEK MSEK Meyer, Suozzi, English & Klein (New York law firm) MSEK Million Swedish Kroner to Nordisk Renting AB. The properties located in Kristianstad and Nybro, Sweden comprise approx. 55.000 m2 and houses, among others, Bong's corporate head quarter. The deal generates a capital gain of approx. 25 MSEK. Bong is a rapidly growing international envelope company and the growth is mainly generated by acquisitions. The sale of the properties in question is a part of the financing of this expansion. Bong has signed a long term rental agreement A rental agreement is a contract, usually written, between the owner of a property and a renter who desires to have temporary possession of the property. As a minimum, the agreement identifies the parties, the property, the term of the rental, and the amount of rent for the term. with Nordisk Renting and intends to continue its operations unchanged in the properties. Nordisk Renting is one of Scandinavia's leading real estate companies with a unique focus on long term and strategic property co-operations with financially strong companies and public partners. Bong is today Europe's leading envelope manufacturer. The Bong Group has revenues of some 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. 2.5 billion, approximately 1,800 employees and an annual production of some 15 billion envelopes at its factories in Sweden, Denmark, Norway, Finland, Germany, Great Britain Great Britain, officially United Kingdom of Great Britain and Northern Ireland, constitutional monarchy (2005 est. pop. 60,441,000), 94,226 sq mi (244,044 sq km), on the British Isles, off W Europe. The country is often referred to simply as Britain. , Ireland, Belgium, Poland and Estonia. Bong has played an active part in the current process of restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). in the European envelope industry and sees useful potential for further expansion. BONG LJUNGDAHL AB Lennart Pihl MD and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/09/18/20000918BIT00550/bit0001.doc http://www.bit.se/bitonline/2000/09/18/20000918BIT00550/bit0002.pdf |
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