Cardo acquires Denmark's leading dock equipment company

12/18/2000 4:33 AM EST

Cardo has signed an agreement to acquire all the shares in the Danish dock
loading equipment company Miflex Miljöexpert A/S. The takeover of the
business will occur on January 1 2001. Together with its subsidiary in
Sweden, Milex Miljöexpert AB, Miflex has a turnover of approximately SEK
80 million and employs 36 people. Up to now, the company has been a
distributor of Cardo Door's dock loading equipment in Denmark and Sweden.

Miflex Miljöexpert A/S is a profitable company with its main operation at
the town of Horsens in Jutland. The company has a market leading position
in Denmark in dock loading equipment and associated service and through
its Swedish subsidiary Milex is one of the major players in the Swedish
dock loading equipment market.

This acquisition, which is part of the Cardo Door business area's strategy
for continued growth in the dock loading equipment area, makes Door the
market leader in Denmark while it further strengthens its market leading
position in Sweden.

Dock loading equipment includes dock levelers, shelters and load houses -
products that contribute towards a working environment for loading and
unloading that is rational, energy-saving and protected from the weather.
These products can be supplied separately or together with industrial
doors as complete dock loading systems.

Cardo Door, which has a turnover of approximately SEK 4.5 billion, is a
business area in the Cardo group and is one of the world's largest
manufacturers of industrial doors and Europe's leading supplier of dock
loading equipment. Cardo Door is also the market leader in the service of
these products and one of Europe's biggest manufacturers of residential
garage doors.

This acquisition is expected to have a marginally positive effect on Cardo
group earnings.

Malmö, Sweden, December 18 2000
Cardo AB (publ)

For further information, please contact:
Kjell Svensson, President and CEO, phone +46 40 35 04 53, +46 40 35 04 00
Sven-Erik Persson, Executive Vice President, phone +46 40 35 04 50, +46 40
35 04 00
Christer Roskvist, Head of Public Relations, phone +46 40 35 04 25, +46 40
35 04 00

Cardo is an international engineering group with a turnover of SEK 9.5
billion in 1999. Cardo holds a strong position in the markets for doors,
pumps and rail-vehicle brake systems. Cardo has subsidiaries in about 30
countries with the focal point resting in western Europe, and roughly
7,800 employees.