STOCKHOLM, Sweden, Jan. 30, 2002 (PRIMEZONE) -- Frontec is continuing its restructuring process by selling the U.K. based software company Frontec (U.K.) Limited to Stephen Tanner. The company has around 20 employees and reported a turnover of approximately SEK 20 million in 2001. The new name of the company will be FMS (U.K.).
"This is a further step in our strategy to become strictly a consulting firm focused on our core businesses," said Per Tjernberg, CEO of Frontec AB.
Stephen Tanner also owns Lynx Technic, a manufacturer and supplier of industrial equipment and systems, and plans to use its many connections to further develop Frontec (U.K.) and build upon the solid foundations that have been established over the last two decades.
"FMS (U.K.) will become one of Europe's leading independent suppliers of computerized maintenance management systems (CMMS). The company will continue to focus on its markets in the U.K. and Sweden and to work with its large international customer base," said Stephen Tanner.
"Existing management and staff are very excited by the new opportunities that will arise in the future and look forward to working closely with the new owners," said John Gould, Finance Manager at Frontec (U.K.) Limited.
FMS (U.K.) will continue to act as a distributor for the API PRO software in the U.K. and Ireland as well as build upon the large base of Idhammar and Comac users across the world.
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