Aker ASA sells Aker Material Handling AS to Altor Fund II

Nordic Business Report, Sept 10, 2007

NORDIC BUSINESS REPORT-10 September 2007-Aker ASA sells Aker Material Handling AS to Altor Fund II(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com

Norwegian industrial holding group Aker ASA announced on Monday (10 September) that it has agreed to sell its business Aker Material Handling AS to the private equity fund Altor Fund II for an undisclosed sum.

Aker Material Handling, headquartered in Oslo, Norway, is northern Europe's leading producer and supplier of logistics solutions for archiving, office, and storage environments. The company has 825 employees and manufacturing plants in Norway, Germany and the Netherlands.

Aker, headquartered in Oslo, Norway, is an industrial powerhouse in Norway and a global technology and services supplier with 50,000 employees, and with annual revenues of over NOK80bn. The group's largest holdings include Aker Kvaerner, Aker Floating Production, Aker Drilling, Aker Exploration, Aker Oilfield Services, Aker American Shipping, Aker Seafoods, Aker BioMarine and Aker Material Handling. Aker is listed on the Oslo Stock Exchange and traded under the ticker ASA.

One British pound (GBP) is worth approximately 11.67 Norwegian kroner (NOK).

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