Hexagon is strengthening its leading position in norway

9/26/2002 4:02 AM EST

HEXAGON IS STRENGTHENING ITS LEADING POSITION IN NORWAY

Hexagon Automation, a business area within the Hexagon Group, has
through its Norwegian subsidiary, Servi Motion Control AS, signed an
agreement with Cylinderservice AS to acquire the operation and all fixed
assets of the Cylinderservice plant in Rissa, Norway. Servi Motion
Control has held a minority stake of 19 per cent in the company since
1992.

Cylinderservice AS is the leading manufacturer of hydraulic cylinders
for the engineering, marine and offshore industries in Norway. The
company's turnover amounted to more than 50 MNOK in 2001. Today Servi
Motion Control is responsible for the marketing and sales of
Cylinderservices´ products on the Norwegian market and approx. 80 per
cent of Cylinderservice´s turnover has been invoiced through Servi
Motion Control.

By adding the operations in Rissa, Servi Motion Control will secure a
significant supplier, while the previous minority ownership in the
parent company Cylinderservice AS will be divested. The acquisition is
expected to contribute to Hexagon's earnings as from closing, which is
expected to take place on September 1st, 2002.

By this acquisition Servi Motion Control AS will increase the turnover
to 350 MNOK and its position, as the leading hydraulics supplier in
Norway will be further strengthened.

For further information, please contact

Ola Rollén, President and CEO Börje Vernet, CEO
Hexagon AB Hexagon Automation
Phone: +46 8 601 26 20 Phone: +46 42 38 15 50

Hexagon AB is a multinational engineering group with the long-term
ambition of positioning itself as number one or number two within its
strategic sectors. 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 GSEK p.a.