Business Services Industry
Swedish investor Investment AB Latour divest textile business FOV Fabrics AB
Nordic Business Report, April 18, 2008
NORDIC BUSINESS REPORT-18 April 2008-Swedish investor Investment AB Latour divest textile business FOV Fabrics AB(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com
Swedish investor Investment AB Latour (OMX Stockholm:LATO A) (OMX Stockholm:LATO B) said on Friday (18 April) that it has sold its remaining textile business, FOV Fabrics AB.
The company was sold to its management, Mats Lundgren and Fredrik Johansson.
The transaction will result in a positive cash flow of approximately SEK22m for Latour, but will result in a book loss of SEK27m.
FOV Fabrics, based in Boras, Sweden, has 117 employees and annual sales of SEK150m.
Latour, headquartered in Gothenburg, Sweden, is a mixed investment company investing mainly in industrial and trading operations. The company's portfolio comprises some 50 businesses within Automotive, Hand Tools, Hydraulics, Air Treatment, Machinery Trading and Engineering Technology.
One British pound (GBP) is worth approximately 11.73 Swedish kronor (SEK).
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