HEXAGON DIVESTS BUSINESS AREA WIRELESS
12/20/2001 9:49 AM EST
Hexagon AB has reached an agreement to divest Moteco AB and its
subsidiaries to the public Finnish company Perlos Corporation. The
disposal will be concluded on December 31, 2001.
The divestiture includes business units that develop, manufacture and
market antennas for mobile phones as well as communication for short
distances within the Bluetooth and the WLAN application area. The
Entities combined net sales for 2001 amounts to almost 100 MSEK and have
a negative profit.
"The divestiture of Wireless is a part of the Hexagon strategy to
further concentrate its operations into a smaller number of business
areas. Aggressive investments within the metrology business, including
aftermarket- and software, has increased the annual turn over for
Hexagon from less than 5 to more than 7 billion SEK during the past 12
months", comments Ola Rollén, President & C.E.O. of Hexagon AB.
"We welcome Perlos as the new owner of Moteco and gigaAnt. It is high
time for a consolidation of the components industry for mobile phones.
Hexagons target is to become and remain No. 1 or No. 2 in its strategic
businesses. We gave the thought to take the lead in this restructuring a
serious evaluation. But considering the growth potential we now see in
Metrology and other areas we regard Perlos to be a more suited leader in
this restructuring than Hexagon.", continues Ola Rollén. "
For further information, please contact:
Ola Rollén, President & C.E.O.
Hexagon AB
Tel: +46-(0)8-601 26 20
Hexagon AB is a multinational engineering group with the long-term
ambition of positioning itself as number one or number two within its
strategies sector. The operation is divided into three business areas:
Hexagon Automation, Hexagon Engineering and Hexagon Metrology. The
group's targets are to increase earnings per share after tax by at least
15 per cent p.a., and achieve a return on capital employed higher than
15 per cent over the business cycle. Current turnover amounts to more
than 7 SEK billion p.a.