Bergman & Beving forms one of northern Norway’s largest industrial resellers
Bergman & Beving has concluded an agreement to form one of northern Norway’s largest industrial reseller businesses together with Asbjørn Hansen Invest AS (Hansen Invest), one of the present part-owners of the two industrial resellers Tromsø Industrivare AS in Tromsö and Byens Byggsenter AS in Kirkenes. A joint parent company (“the Regional Company”) has been formed with the above mentioned reseller businesses as wholly owned subsidiaries. Bergman & Beving will own 51 percent of the shares in the Regional Company and Hansen Invest will own the remaining 49 percent of the shares outstanding.
The aggregate net revenues for the two included businesses amount to approximately MNOK 50 per annum. After elimination of the Bergman & Beving Group’s current sales to the businesses, the Group’s consolidated annual net revenues are expected to increase by approximately MNOK 30. The businesses have a total of 14 employees.
The Regional Company will be operating within the framework of TOOLS, the Bergman & Beving Group’s Nordic partner chain for industrial resellers, and will be a prominent player in northern Norway. The included reseller businesses are already partners in TOOLS and offer tools and other industrial consumables and related services to companies in the industrial and construction sectors and to public administration. The co-ordination of the businesses will create opportunities for increased development and market cultivation and for cost savings.
“We are now taking an important step in an interesting region. The potential in northern Norway is vast, with many fine industrial customers and robust growth in areas such as oil and gas,” says Johan Falk, president of Bergman & Beving Integration. “We are creating a strong position in the region and the aggregated business will have sufficient size to be able to invest in competence and infrastructure for the purpose of creating customer values of superior quality.”
The new joint Regional Company is expected to be operational during January 2007 and is estimated to have a marginally positive effect on Bergman & Beving’s earnings per share during the current financial year.
Stockholm, 17 January 2007
BERGMAN & BEVING AB (publ)
Bergman & Beving provides the industrial and construction sectors in Northern Europe with tools, industrial consumables and industrial components, and related services.
The Group has annual revenues of approximately SEK 6.4 billion and approximately 2,300 employees.
- Contact Information
- Mats Karlqvist
- Vice President - Investor Relations
- Bergman & Beving AB
- Contact via E-mail
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