Bergman & Beving has today concluded an agreement to acquire 100 percent of the shares outstanding in Maskinforretningen Thv. Christensen AS (Maskinforretningen) - one of the largest industrial reseller businesses in Norway. With this strategic acquisition Bergman & Beving and the tools chain further strengthen their positions as suppliers to the industrial and construction sectors and to public services in western Norway. The potential for continued expansion is deemed to be good. Maskinforretningen has annual revenues of approximately MNOK 77 with good profitability and has 26 employees.
Maskinforretningen's customers are primarily companies in the industrial and construction sectors, offshore and public service. The product range includes tools, fastening elements, roller bearings, electrical hand tools, hydraulics, personal protection equipment and work clothes, as well as other industrial consumables. Since the start in 1919, the company works close to its customers, for the purpose of developing customised solutions with a high degree of service. This includes technical advice and solutions for effective supply of goods. Maskinforretningen has had a central role in tools, Bergman & Beving's partner chain for industrial resellers, ever since the chain was formed.
After elimination of the Bergman & Beving Group's current sales to Maskinforretningen, the Group's annual net revenues are estimated to increase by approximately MNOK 64. Closing is expected to take place in the beginning of May 2006 after approval has been obtained from the relevant authorities. The acquisition is expected to have a marginally positive effect on Bergman & Beving's earnings per share from the closing of the acquisition.
Stockholm, 27 April 2006
BERGMAN & BEVING AB (publ)
For further information, contact: Johan Falk, President, Bergman & Beving Integration AB, telephone +46-8-660 10 30 Mats Karlqvist, Vice President - Investor Relations, Bergman & Beving AB, telephone +46-70-660 31 32