Electrolux to acquire American diamond tool manufacturer Cushion Cut

12/29/2000 6:13 AM EST

(ELUX) Dimas, a part of the Electrolux Group, has agreed to acquire
Cushion Cut from Boart Longyear Company. Cushion Cut is an American
manufacturer and distributor of diamond tools and equipment for the
construction industry.

Cushion Cut, located in Torrance, California, USA, currently employs 95
people. Sales in 2000 are estimated to USD 25 million. The company will be
an integral part of Dimas' diamond tool and equipment business.

The acquisition does not include the highway grooving and grinding
business operated by Boart Longyear in Oakdale, California. The
transaction is effective as of January 1, 2001.

"The acquisition of Cushion Cut will be a good complement to our current
product line and will give us a nationwide sales organization in the North
American market," says Bengt Andersson, Head of Professional Outdoor
products. "The acquisition will strengthen Dimas' position as one of the
leading global providers of diamond tools and related equipment."

Dimas belongs to the Industrial product line within Professional Outdoor
products. The product line manufactures a wide range of diamond tools and
equipment for cutting, grooving and drilling hard materials such as
concrete, stone and asphalt. After the acquisition of Cushion Cut, the
product line's annual sales will be approximately SEK 1.35 billion and the
number of employees 600.

Electrolux is the world's largest producer of powered appliances for
kitchen, cleaning and outdoor use, such as refrigerators, washing
machines, cookers, vacuum cleaners, chain saws, lawn mowers, and garden
tractors. In 1999, Group sales were SEK 120 billion and the Group had
93,000 employees. Every year, customers in more than 150 countries buy
more than 55 million Electrolux Group products for both consumer and
professional use. The Electrolux

Group includes famous appliance brands such as AEG, Zanussi, Frigidaire,
Eureka, and Husqvarna.

Further information
For further information please contact Anders Ströby, Head of the product
line Industrial Products, at +46 70 594 90 09 or +46 31-94 90 09. The
Electrolux Press Hotline is available at +46 8 657 65 07.

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