Coor acquires Studsvik’s service company Stensand and expands activities within production-related service

Coor Service Management is acquiring the Studsvik AB company Stensand, which supplies technical service solutions. This acquisition strengthens Coor's position within the nuclear, processing and manufacturing industries.

Stensand is one of Sweden's leading suppliers of extensive technical service solutions to the nuclear industry. Stensand achieves a turnover of approximately SEK 130 million and has around 200 employees.

"Stensand is a well-managed service company that we would like to help to develop further. With this acquisition we are consolidating our skills within production-related service, which is an area with immense potential in Sweden. Through Stensand, we also gain experience about working with the nuclear industry, which previously we lacked," says Staffan Ebenfelt, a Business Area Manager at Coor.

Stensand's services include, among other things, nuclear service, mechanical service and industrial service. The company's customers include Ringhals, Barsebäck, Forsmark, Plastal and AB Volvo.

"Having new owners whose core activity is business-related service provides Stensand with an excellent opportunity to continue its positive development. The deal benefits all parties – Coor can develop Stensand and we can focus on our core activity," says Magnus Groth, President and CEO of Studsvik.

The sale will take place on 1 January 2007 and requires the approval of the Swedish Competition Authority.

For further information please contact:

Staffan Ebenfelt, Business Area Manager, Coor Service Management, tel: +46 (0)8-553 959 95

Åsvor Brynnel, Communications Manager, Coor Service Management, tel: +46 (0)8-553 954 04

Magnus Groth, President and CEO, Studsvik AB, tel: +46 (0)155-22 10 86