Framfab Divests Non-Core Companies.Business Editors/High Tech Writers STOCKHOLM, Sweden--(BUSINESS WIRE)--July 5, 2001 Framfab sells its subsidiaries M.O.R., Dimac, and Framfab AS in Norway. The office at Sveavagen 17 in Stockholm has also been sold. These divestments are part of the action program that has been communicated earlier. -- M.O.R., Marknads- och Reklambyran AB, an adverstising agency, today has 19 employees in Malmo. The company has been sold to employees. -- Framfab's office at Sveavagen 17 in Stockholm (former Unusual Systems) with 65 employees has been sold to ECsoft Sweden. -- Framfab AS in Norway (former MakeIT) with 41 employees has been sold to Skipper Invest AS, which is owned by employees of Framfab AS. The company will change its name to 4 elementer AS. -- The software development company Dimac AB i Helsingborg, Sweden, with 34 employees has been sold to Dropside Technology Limited. In line with Framfab's action programme, all subsidiaries outside the core business - Internet professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. in the six main markets Germany, Sweden, 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. , the Netherlands, France and Denmark - will have been divested in October. Framfab will then have approximately 900 employees, approximately 350 of which in Sweden. This can be compared to October 2000, when Framfab had almost 3,000 employees in 13 countries within many different lines of business. "I am happy to see that the forceful action program that shall restore our profitability is progressing according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. plan. I am also happy to see that we have found good buyers for these companies that are all outside of Framfab's focus area, Internet professional services in our six main markets," said Johan Wall, the 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. of Framfab. The divestments of Framfab AS and M.O.R. are conditional for their validity upon the support of a general meeting. A majority of at least nine tenths of both the votes cast and also of the shares represented is needed as the decisions fall under the Swedish LEO act. Framfab will shortly send out a notice for an extraordinary general meeting. Framfab is a global Internet professional services company, delivering digital services based on Internet technology. Framfab has offices in Denmark, France, Germany, the Netherlands, Sweden and the UK. Many large global groups work with Framfab, including 3M, AstraZeneca, AXA AXA Anguilla, Anguilla (Airport Code) AXA Alpha Chi Alpha AXA Animal Crossing Ahead (online forum community/guide to the game Animal Crossing) AXA Auxiliary Artery , Bosch, Electrolux, Orange, I K E A, le Groupe Pernod Ricard Pernod Ricard (Euronext: RI) is a French company producing alcoholic beverages. Their most famous product, Pernod Anise (40% alcoholic volume) and Ricard Pastis, are both pastis, and often referred to as simply Ricard or Pernod. , Kellogg's, Packard Bell, Nike Europe, SAAB SAAB Svenska Aeroplan Aktiebolaget (Swedish Aeroplane Corporation; auto/aircraft manufacturer) SAAB Student-Athlete Advisory Board SAAB Student African American Brotherhood SAAB South African Association of Botanists , BT Ignite, Volvo Car Corporation and Volvo Group. Framfab is listed on the Stockholm Exchange's Attract 40 list (ticker FTID FTID Financial Times Interactive Data ). For more information, please visit www.framfab.com This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.bit.se/bitonline/2001/07/05/20010705BIT00020/bit0001.doc http://www.bit.se/bitonline/2001/07/05/20010705BIT00020/bit0001.pdf |
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