STOCKHOLM, Sweden, Aug. 19, 2002 (PRIMEZONE) -- Ake Engquist has been appointed as the new President and CEO of Ratos's associated company DataVis. Ake Engquist has been working in the IT and telecom industry since 1980, most recently with Teleca AU-System where he headed the Enterprise Infrastructure business unit.
"As CEO designate Ake Engquist's assignment is to continue the streamlining of DataVis and to create a more focused range of services," said Bo Jungner, who is responsible for DataVis at Ratos. "In view of his excellent record, the board of DataVis reckons that together with the rest of the management team he should be well placed to restore DataVis to profitability and growth."
DataVis focuses its operations on development and efficiency enhancement of customers' business activities through qualified solutions within systems development, systems integration, technology related services and competence development. Customers are medium-sized and large companies primarily in the trading, industrial, public administration and telecom sectors. The Group's sales totalled SEK 215m in 2001.
"It's a tremendous challenge to further develop DataVis with the competent employees, stable customer base and streamlined operations which exist today," said Ake Engquist.
Ake Engquist takes up his new appointment on 1 October 2002. He will take over from Johan Ortenblad who at his own request is returning to his original role as a consultant and manager at DataVis.
For additional information, please contact:
Bo Jungner, Senior Investment Manager Ratos, +46 8 700 17 85 Ake Engquist, President and CEO designate of DataVis, +46 706 26 75 93 Financial calendar 2002: Six-month report 26 August Nine-month report 13 November
Ratos is a listed private equity company. The business concept is to maximise shareholder value over time by investing in, developing and divesting primarily unlisted companies. Ratos thus offers stock market players a unique investment opportunity. The net asset value of Ratos's investments is more than SEK 8 billion. Ratos's holdings include Arcorus, Atle Industri, Camfil, Capona, Dahl, DataVis, DIAB, Dynal Biotech, Gadelius, GIGA-consulting, Haendig, Haglofs, Hilding Anders, HL Display, Industri Kapital, Intervect, Lindab, Martinsson, Q-Labs, Superfos and Telia Overseas.
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