Investment AB Latour has via Specma AB, parent company in the Engineering Technology business area, acquired through a right issue 49 % of the shares in Pressmaster Holding AB, which owns Pressmaster AB. In addition, Specma AB has acquired an option to buy over a three year period the remaining 51 % of the shares currently owned by Albin Invest and senior officers in the company.
Pressmaster is domiciled in Älvdalen and develops, manufactures and sells professional hand tools for the international electrical and electronics markets. Customers are primarily leading manufacturers of electrical and electronic connectors, hand tool manufacturers and major industrial distributors. The companys main markets outside the Nordic region are Germany, England, France, Italy, the USA and Japan. These markets are handled through subsidiaries in the USA and Germany as well as through selected agents and representatives.
Net sales in 2008 were around SEK 100 million and operating profit exceeded SEK 8 million.
Engineering Technology is one of six wholly owned business areas within Latour and it has operations in lock components, automation, tool sales and gaskets and seals with total net sales of more than SEK 500 million.
Investment AB Latour is a mixed investment company with a portfolio worth around SEK 9 billion and wholly owned industrial and trading operations with a combined net sales of nearly SEK 6 billion.
Gothenburg 7 December 2009
INVESTMENT AB LATOUR
Jan Svensson
President and CEO
For further information please contact: Jan Svensson, CEO Investment AB Latour, tel. +46 705-77 16 40 or Henrik Johansson, Engineering Technology Business Area Manager, tel. +46 705-17 66 01.