Cardo Door buys Hafa

12/10/1998 4:07 AM EST

Cardo makes acquisition in Germany and becomes largest in Europe in dock
loading equipment

Cardo Door AB has acquired all the shares in the German company Hafa
- Alten Gerätebau GmbH and its subsidiaries - which is Europe's largest
manufacturer of dock loading equipment. Hafa has approximately 170 employees
and turnover in 1997 amounted to about DEM 110 million. The vendor is the
Alten family. This acquisition is part of Cardo Door's strategy for continued
growth in the dock loading area.

By means of this acquisition, turnover in Cardo Door's dock loading area is
being more than trebled, and the company is advancing from second position to
become the market leader in Europe. In Hafa, Cardo Door is also gaining access
to a very strong brand.

Cardo's president and CEO Kjell Svensson:
"Hafa is a very well run company with good management and good profitability.
This acquisition provides Cardo Door with valuable competence in the dock
loading area at the same time as I see good prospects of achieving synergy
effects in both production and marketing. We will now also enjoy a strong
position in the major German market, where so far Cardo Door has not been
active as regards dock loading equipment."

Hafa is the market leader in Germany, which is the biggest market in terms of
sales, as well as in Denmark. The company also has good market positions in
France and Great Britain.

Hafa, which was founded in 1959 by the engineer Kurt Alten, has its main plant
in Wennigsen outside Hannover. It has its own subsidiaries in Italy, France,
Switzerland and Britain, and also has an extensive distribution network. Most
of production, which mainly relates to dock levellers and shelters, is carried
out by subcontractors.

Dock loading equipment includes dock levellers, 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 in connection with the door opening.

Cardo Door, which is a business area of the Cardo group, is one of the world's
largest manufacturers of industrial doors and one of Europe's largest
manufacturers of residential garage doors. The product range also embraces
special-purpose doors used, for example, in aircraft hangars, rapid-action
rolling doors, door-operating equipment with attendant automation as well as
complete dock loading systems, an area where Cardo Door will be largest in
Europe after its acquisition of Hafa.

Cardo Door's trademarks for industrial doors are Crawford and Clever, which
together with Hafa are also trademarks for dock loading systems, Faltec, Alsta
and Allhabo. Residential garage doors are marketed under the Normstahl,
Crawford and Car-In trademarks.

After the acquisition of Hafa, Cardo Door's annual turnover will amount to
approximately SEK 4.1 billion, and the number of employees will be about
3,300. This acquisition will be reported to the Bundeskartellamt competition
authority in Germany for approval.

This acquisition is expected to have a marginally positive effect on Cardo
group earnings in 1999.

Malmö, December 10 1998

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 approximately
SEK 8 billion in 1997. Cardo holds a strong position in the markets for
industrial doors, residential garage doors, centrifugal pumps and rail-vehicle
brake systems. Cardo has subsidiaries in about 30 countries with the focal
point resting in western Europe, and roughly 7,500 employees. The head office
is in Malmö, Sweden.