CARDO ACQUIRES MANUFACTURER OF MEASURING INSTRUMENTS FOR PULP AND PAPER INDUSTRY
7/21/2008 2:29 AM EST
Cardo has acquired the Finnish company Kajaani Process Measurements Oy, which is one of Finland’s leading manufacturers of sophisticated measuring instruments for the pulp and paper industry. The information is not deemed to be stock price sensitive information.
Kajaani Process Measurements Oy (KPM) has approximately ten employees and sales of approximately SEK 20 million. KPM, which was founded in 2001, runs an operation in Kajaani in northern Finland. The company develops, manufactures and sells sophisticated measuring instruments for pulp and paper. Through the acquisition, Cardo’s division Pulp & Paper Solutions is strengthening its position in this field.
The acquisition will be realized at an enterprise value of approximately SEK 36 million. The acquisition is expected to have a marginally positive effect on Cardo’s earnings during 2008.
“Lorentzen & Wettre, within Pulp & Paper Solutions, is the leader in measuring instruments for the global pulp and paper industry. By acquiring KPM, we are further strengthening this position and adding products and new skills within the segment for on-line measurement of pulp,” says Peter Aru, Cardo’s President and CEO.
Malmö, Sweden, July 21 2008
Cardo AB (publ)