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Press Release | 11 Aug, 2008 | 13:00 | Regulatory

Fagerhult announces disposal of Belid AB

Fagerhult has signed an agreement to sell its Swedish subsidiary Belid AB to Herstal Holding ApS, Denmark. Completion is estimated to be early September. The disposal will only have a marginal impact on the profit per share during 2008.

Belid, based just outside Varberg in south western Sweden, has sales turnover of 175 MSEK and 150 employees. The company has been a part of the Fagerhult Group and Business Division Domestic Lighting since 1988. Belid offers products for hotels, conference centres, public premises and home applications.

This disposal is a step in the execution of Fagerhults strategy to be among the top three players in Europe.
“We have to focus on our core strategy to be in professional lighting and I am pleased that we are able to find such a natural home for Belid”, says Fagerhults CEO Per Borgvall.
With Herstal as new owners there will be continuity and stability for the company and its customers”, he continues..

Habo 11 August 2008

For more information, please contact:

Per Borgvall
tel: +46 36 10 87 06
mobile: +46 70 655 45 44

Ulf Karlsson
Financial Director
tel: +46 36 10 85 63
mobile: +46 70 537 04 54