STOCKHOLM, Sweden, Feb. 25, 2002 (PRIMEZONE) -- Bong is selling its industrial property in Norway for NKr 45 million (ca. SKr 52 million). The property, which is located in Stokke, just outside Tonsberg, consists of some 10,000 square metres of factory, warehousing and office premises. It is being bought by a consortium of private, Norwegian property investors. The transaction, which is one of the measures being taken to reduce the amount of capital tied up in the group, will generate a capital gain of some SKr 4 million.
Bong expects to complete the sale in March 2002 when the buyers have obtained the necessary official consents. Bong has signed a long-term rental agreement with the buyer and intends to continue its business unchanged on the property.
Bong is a fast growing international envelope company. The group has an annual turnover of some SKr 2.4 billion and some 1,700 employees. It has the capacity to manufacture some 15 billion envelopes a year at its facilities in Sweden, Denmark, Norway, Finland, Germany, Great Britain, Ireland, Belgium, Poland and Estonia. In recent years, Bong has played an active role in the structural transformation of the European envelope industry and sees attractive opportunities for further expansion and development. Bong is a public limited company and its shares are listed on Stockholmsborsen's "O" list.
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