7/21/2005 6:10 AM Ahlsell acquires leading Norwegian electrical wholesale company
Ahlsell AB has concluded an agreement with Nexans, the worldwide leader in the cable industry, to acquire its electrical wholesale operations in Norway, Nexans Distribusjon AS. The acquisition significantly strengthens Ahlsell's market position on the Norwegian market.
Nexans Distibusjon AS has a turnover of about SEK 1,200 million and some 300 employees. The company is well positioned on the Norwegian market with 24 local sales units distributed throughout the country. Nexans Distibusjon AS is a well-established supplier to both offshore and conventional land-based industries: its main customer group comprises installation, shipyard, offshore and industrial companies, power distribution utilities as well as municipalities. Its product range consists of cables as well as conventional electrical products for professional users. The company also supplies advanced data and telecom solutions.
After the acquisition, Ahlsell's Norwegian operations will turn over more than SEK 5,500 million and will employ some 1,300 people.
"Nexans Distribusjon is a strongly positioned and well-established company that, together with Ahlsell's electrical wholesale operations in Norway, constitutes a leading player on the Norwegian market. Thanks to Ahlsell's network of outlets throughout Norway I am convinced that we will jointly expand our sales of electrical products still further in Norway", says Göran Näsholm, President and CEO of Ahlsell AB.
After the acquisition, the annual turnover of the Ahlsell Group will rise to some SEK 16 billion and the number of its employees to some 4,300.
The acquisition is subject to approval by the Competition Authority.
For further information, please contact:
Göran Näsholm, President and CEO, on +46 70 823 71 00 or
Camilla Weiner, CIO, on +46 734 04 70 62.