Business Services Industry
Karolin Machine Tool AB divests part of subsidiary KMT Herber
Nordic Business Report, Feb 26, 2007
NORDIC BUSINESS REPORT-26 February 2007-Karolin Machine Tool AB divests part of subsidiary KMT Herber(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com
Swedish production machines developer and manufacturer Karolin Machine Tool AB (KMT Group) said on Monday (26 February) that it has agreed to sell part of the operations of the subsidiary KMT Herber.
The operations are sold to three former employees for an undisclosed sum. The deal is part of KMT Group's arrangements for discontinuing KMT Herber.
"The new owners will assume full responsibility for machines supplied earlier, in addition to other client undertakings," KMT Group said.
KMT Group, headquartered in Stockholm, Sweden, develops and manufactures advanced production machines and system solutions for the engineering industry. KMT is listed on the Nordic Exchange in Stockholm.
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