Business Services Industry
Swedish electronics group AB Westergyllen divests subsidiary Elektromekan i Arjang AB
Nordic Business Report, Dec 3, 2007
NORDIC BUSINESS REPORT-3 December 2007-Swedish electronics group AB Westergyllen divests subsidiary Elektromekan i Arjang AB(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com
Swedish electronics and technology group AB Westergyllen said on Monday (3 December) that it has agreed to sell its subsidiary Elektromekan i Arjang AB to the Latvian company Hanzas Elektronika SIA.
The SEK35m divestment is part of Westergyllen's strategy to streamline its operations, and will generate a capital gain of approximately SEK3m.
Westergyllen, headquartered in Gotene in Sweden, focuses on manufacturing and marketing electronics and technical products for the medical and industrial sectors. The group has 500 employees and an annual turnover of approximately SEK750m. Westergyllen is listed on the OMX Nordic Exchange in Stockholm.
One British pound (GBP) is worth approximately 13.11 Swedish kronor (SEK).
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