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Manufactures and sells process equipment for the pulp and paper industry
July 4, 2011
By: DAVID SAVASTANO
Editor, Ink World Magazine
ASSA ABLOY has signed an agreement with ABB to sell Lorentzen & Wettre, part of the former Cardo group. The selling price is SEK 750 M on a cash and debt free basis. Lorentzen & Wettre manufactures and sells process equipment for the pulp and paper industry, had a turnover of SEK 307 M in 2010 and 188 employees. “I find it very satisfying that Lorentzen & Wettre in ABB gets a long term owner that gives the company an industrial home and creates opportunities for a continu...
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