Korsnäs Packaging, a subsidiary of Industriförvaltnings AB Kinnevik, has today completed the sale of Cargo Pak to Illinois Tooling. Cargo Pak, an operating division within Korsnäs Packaging, is a market leader in the production of airbags for stabilizing cargo, and has a strong market position outside the Americas. Illinois Tooling, a large industrial group, is a market leader in airbag production in the US and this acquisition will further consolidate the group's global position.
The capital gain arising from this asset sale amounts to ? 5 million.
For further information, please contact:
| Vigo Carlund, CEO, Industriförvaltnings AB Kinnevik | tel: +46 8 5620 0000 |
| Peter Buckley, CEO, Korsnäs Packaging Group | tel: +33 149 67 08 90 |
