Axel Johnson International AB acquires Finnish bearings and transmissions reseller Porin Laakeri Oy

Nordic Business Report, March 6, 2008

NORDIC BUSINESS REPORT-6 March 2008-Axel Johnson International AB acquires Finnish bearings and transmissions reseller Porin Laakeri Oy(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com

Swedish industrial components, systems and solutions trading group AxIndustries, part of Axel Johnson International AB, said on Thursday (6 March) that its subsidiary Nomo Kullager AB has acquired the Finnish reseller Porin Laakeri Oy.

The financial details of the acquisition were not disclosed.

Porin Laakeri, based in Pori, Finland, sells bearings and transmissions. The company has 10 employees and an annual turnover of EUR2.5m.

The acquired business will continue operations under its current management.

Axel Johnson International markets and distributes products and services within the business areas Forankra, AxFlow, AxIndustries and AxImage. The group has operations in some 20 countries in Europe, and an annual turnover of SEK7bn. Axel Johnson International is owned by the family company Axel Johnson AB.

One British pound (GBP) is worth approximately 1.30 euros (EUR). One British pound (GBP) is worth approximately 12.23 Swedish kronor (SEK).

((Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com))