Through Latour Industries International AB, parent company in the Latour Industries business area, Investment AB Latour has acquired 51 % of the shares in Pressmaster Holding AB, the owner of Pressmaster AB. In the autumn of 2009 Latour acquired 49 % of the shares through a new issue. The purchase agreement included the option to acquire the remaining shares in Pressmaster and this option now was utilized when the shares were bought from Albin Invest and senior officers in the company.
The company will be incorporated as subsidiaries in Latour's results from 1 January, 2011.
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 company's main markets are the USA, Germany, England, France, Japan, Italy and the Nordic region. These markets are handled through subsidiaries in the US and Germany as well as through selected agents and representatives. The company currently has 76 employees, and this year the expected
net sales will be around 90 MSEK with an operating margin of approximately 12 %.
"With Latour as owner, we ensure our investment in product and market development and maintain the leading position that we currently have with our customers", says Camilla Rudberg, Managing director of Pressmaster
Latour Industries is one of four wholly owned business areas in Latour with total net sales of over SEK 1.2 billion. The companies in Latour Industries trade in engineering machinery, electric tools and input goods for the wood and furniture industry. They also manufacture bolt securing systems, hand tools, electric actuators and lifts 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 10 billion and wholly owned industrial and trading operations with total net sales of about SEK 6.5 billion.
Gothenburg 22 December 2010
INVESTMENT AB LATOUR
Jan Svensson
President and CEO
For further information please contact Henrik Johansson, Latour Industries Business Area Manager, tel. + 46 705 176601.