As we earlier informed Investment AB Latour signed through, Specma Hydraulic AB, parent company in the Specma Group business area, on 1 March this year an agreement to divest 100 percent of shares in Autotube AB to Accent Equity 2008. Autotube AB is one of Swedens leading manufacturers of vehicle components for air and fluid distribution in heavy vehicles and cars and had net sales of SEK 357 million in 2010. The divestiture is a part of Latours continuous revision of the structure in the industrial and trading operations where the number of business areas was reduced from six to four in 2010.
Terms of the deal has now been fulfilled, including approval from the Swedish competition authorities. Completion of the transaction is per March 31 and the takeover will be effective immediately. With the takeover, Investment AB Latour, do not leave any part of it, which until 2009 accounted as business area 'Automotive'.
Gothenburg 31 March 2011
INVESTMENT AB LATOUR
Jan Svensson, President and CEO
For further information please contact:
Jan Svensson, President and CEO, Investment AB Latour, tel. +46 705 77 16 40 or
Ola Sjölin, Specma Group Business Area Manager, tel. +46 706 67 24 68.
Specma Group is one of four wholly owned business areas in Latour. The companies in the business area develop, manufacture and market application-adapted hydraulics systems, conduction components and hydraulics components to customers on the Nordic market and to their subsidiaries outside of the Nordic region. Remaining operations in the business area have annual net sales of approximately SEK 1,100 million.
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.