Letter of intent regarding acquisition of Fisco Tools

Hultafors Group has signed a letter of intent whereby Hultafors Group will acquire all shares of the British company Fisco Tools. Fisco manufactures tape measures and its main sales area is in Europe. The acquisition is a natural step in the growth strategy for Hultafors Group.

Hultafors Group and Fisco Tools have for many years undertaken strategic cooperation regarding the production and sale of marking measures. With the acquisition, which is expected to be completed on March 3, 2008, Hultafors Group will be able to broaden its product portfolio and strengthen its presence on the European market.

“Hultafors Group has high growth targets and with the acquisition of Fisco Tools we will increase our annual turnover by over 100 million SEK,” says Bo Jägnefält, CEO of Hultafors Group. “Tape measures are today one of the world’s most frequently used hand-held tools and we see considerable growth potential on virtually all markets.”

Fisco Tools Ltd in Rayleigh employs 100 people in its own facilities. “Having worked together with Hultafors AB since 1985, we know that this is an excellent opportunity to develop further both our operations and sales,” says Peter Fisher, part-owner and CEO of Fisco Tools Ltd. “The increased concentration in the distribution sector of supply for construction, maintenance, repair and service to European industry and craftsmen imposes ever higher demands on the manufacturing process. As part of Hultafors Group we see a range of market benefits for the coming years compared with going it alone.” In 2007, the annual turnover of the Hultafors Group was 1.1 billion SEK. The group offers a dynamic range of premium brands to rely on – for distributors and craftsmen alike.  Each brand in the Hultafors Group is united in a common passion: to keep craftsmen at the forefront in terms of functionality, safety, protection and overall productivity. Hultafors Group represents the hand tools business area within Investment AB Latour which is listed on the Stockholm stock exchange.

Strong premium brands within Hultafors Group:
• Hultafors Tools; the Nordic market leader in hand tools in the areas of measuring & marking and chopping & striking.

• Wibe Ladders; acquired in 2005 and the market leader in the Nordic region for ladders and scaffolds.

• Snickers Workwear; acquired in December 2006 and one of Europe’s leading brands in workwear.

Fisco Tools Ltd has been a manufacturer of tape measures since 1939 and from the beginning of 2000 the company has taken a leading position in the development of state-of-the-art products. The company’s operation and production are in Rayleigh, Essex in England.

Hultafors Group – a range of premium brands committed to keeping craftsmen at the forefront. In every way, a partner to relay on. Hultafors Group has 650 employees and has sales operations on more than 40 markets the world over. www.hultaforsgroup.com