Investment AB Latour has through LSAB Group AB acquired Vissträsk Slipservice AB in Vissträsk from Swedex AB. LSAB is a part of business area Latour Industries.
The acquisition will strengthen LSABs presence in the north and in the northern parts of Finland. Both areas have large number of strategic customers in the saw mill industry. Vissträsk has 20 employees with an annual turnover of SEK 20 million.
LSAB with headquarter in Långshyttan has over 280 employees and an annual turnover of SEK 400 million. The company sells and manufactures tools for wood and metal cutting in the Nordic market and in the Baltic countries as well as Russia.
LSAB already has already a grinding station just outside Luleå, after the acquisition the grinding station will be relocated and integrated with Vissträsk.
LSAB has had a strong position at saw mills in southern and central Sweden with our grinding stations in Långshyttan, Vansbro, Mörlunda, Växjö and Trollhättan. By acquiring Vissträsk we will also strengthen our position in the entire Swedish market as we will have a better position to serve our national customers with saw mills across the country, says Per Vikström, CEO, LSAB Group.
Göteborg 4 December 2012
INVESTMENT AB LATOUR (publ)
Jan Svensson
CEO
For further information please contact:
Per Vikström, MD, CEO, tel + 46 706-776580 or
Henrik Johansson, Business Area Manager Latour Industries, tel +46 705-176601
Latour Industries is one of four wholly owned business areas in Latour with total net sales of over SEK 1.6 billion. In addition to Kabona the companies in Latour Industries trade in electric tools and input goods for the wood and furniture industry. They also manufacture bolted joint products, hand tools, electric actuators, tools for woodworking and metalworking as well as seals and gaskets.
Investment AB Latour is a mixed investment company consisting of an investment portfolio with a market value of about SEK 17 billion and wholly owned industrial operations with total net sales of about SEK 7 billion.