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Kinshofer GmbH Bought by Lifco AB Waakirchen, Germany and Enköping, Sweden - August 6, 2007 - Kinshofer GmbH, the German based manufacturer of crane and excavator attachments, has been bought by the Swedish industrial company Lifco AB. Lifco’s primary objective of the acquisition is to enhance its overall product portfolio by adding Kinshofer’s product range and industry know-how to its industrial businesses within Sorb Industries. Fredrik Karlsson, President of Lifco AB said: “The addition of Kinshofer to the Lifco Group will enable us to both broaden the scope of our product range and develop the intra-company network to achieve a more efficient and comprehensive approach to the markets” Thomas Friedrich, Managing Director of Kinshofer Group commented: “This is a good move for the Kinshofer Group. There are definite synergies between Kinshofer and the other companies in Lifco’s Sorb division, not only the sales side of the business but also other areas like procurement and R&D will benefit from the acquisition.” The Kinshofer group will continue to focus on the design, manufacture and sales of technologically advanced crane and excavator attachments. Lifco intends to run the business with the current management and employees going forward. Lifco’s President also emphasized the fact that the businesses Lifco acquire have outstanding management and dedicated personnel, which identifies itself with the business, combined with a global market approach and a leading and innovative product offering. The addition of Kinshofer to the Lifco Group is a strategic move that will secure the long-term futures of both groups. About Lifco: Lifco AB is an industrial group that consists of two main business areas, Sorb Industries and Lifco Dental Group. Sorb Industries is engaged in contract manufacturing, sawmill equipment, service interiors for commercial vehicles, demolition machines and environmental technology. Sorb Industries has a turnover of approx 200 million Euro. Lifco Dental Group is Scandinavia’s leading wholesaler of dental materials and equipment with more than 25 000 dentists as customers in Sweden, Denmark, Norway and the Baltics. Lifco Dental Group has a turnover of approx 100 million Euro. The Lifco group employs approx 1,500 people with subsidiaries in 15 countries and sales in more than 20 countries. As a strategic investor, Lifco is continuously looking for opportunities to strengthen market position either through acquisitions or organic growth. Lifco is a wholly-owned subsidiary of Carl Bennet AB, privately owned by the well-known Swedish industrialist Carl Bennet. For further information please visit Lifco’s website under www.lifco.se. For additional information on the sale of Kinshofer GmbH, Media Relations at info@kinshofer.com |
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