Nefab Acquires Packaging Company in Germany

Nefab has signed an agreement to acquire Günther Verpackungen, a German company, located close to Stuttgart.

Günther Verpackungen provides packaging material to industrial companies in southern Germany. The turnover 2006 amounted to 10 M€ and the operational profit amounted to 500 T€. The company employs about 30 people.

The acquisition will be carried out by a wholly owned subsidiary of Nefab in Germany. Inventory, fixed assets and staff will be transferred to Nefab whilst the seller keeps the premises in which the company operates. Nefab’s intention is to continue the business in the current premises and has therefore signed a lease agreement with the seller.

Nefab pays the book value of fixed assets and inventory. Moreover, Nefab pays 2,9 M€ for intangible assets in the company. A preliminary valuation of the intangible assets shows a dominant share of amortizable values, which means that the size of the goodwill is relatively low.

The acquisition is estimated to give a marginal contribution to Nefab’s profit per share for present year.

”The acquisition is in line with our strive to strengthen our position in this important industrial part of Germany”, says Lars-Åke Rydh, President and CEO of Nefab. ”We expect that the acquired unit will become a platform for future growth in the region”, Rydh continues.

For further information, please contact the President and CEO Lars-Åke Rydh, tel +46-70-592 45 70, e-mail lars-ake.rydh@nefab.se or CFO Anna Stålenbring, +46 (0)70-814 23 44, e-mail anna.stalenbring@nefab.se