Author: Aurora

Merger of Karelia-Upofloor and Kährs approved

Kährs and Karelia-Upofloor have received competition authorities´ approval to merge. Kährs and Karelia-Upofloor announced in October the intention to merge and create Europe’s leading wood floor producer. According to the agreement, the merger was conditional upon approval by relevant competition authorities. The condition has now been fulfilled and the merger has been completed.

For further information, please contact:
Bertel Langenskiöld, Managing Director: +358 (0)9 6818 560
www.kareliaupofloor.com
www.kährs.com

Karelia-Upofloor and Kährs to merge

Swedish company AB Gustaf Kähr (“Kährs”) and Finnish company Karelia-Upofloor Oy (“Karelia-Upofloor) today announces a merger of the two companies, creating Europe’s leading producer of wood floors. The new company will be market leader in Sweden, Norway, Finland and Russia, and will hold strong positions in other important markets such as Great Britain and Germany. The new company will have revenues of around 300 million euro.

”We bring two companies together with complementary products and geographies. As a long-term shareholder we believe that the merged company will be a more competitive player on a fragmented market. Together the companies will be in a stronger position to compete under challenging market conditions”, said Bertel Langenskiöld, Managing Director of Hartwall Capital.

Kährs’ principal owner, Triton Fund III, will be majority owner of the new company. Hartwall Capital, will be the second largest owner followed by the management. Hartwall Capital has owned Karelia-Upofloor since 2004.

The merger is conditional upon approval by the relevant competition authorities.

For further information, please contact:
Bertel Langenskiöld, Managing Director: +358 (0)9 6818 560
www.kareliaupofloor.com
www.kahrs.com

Hartwall Capital buys the Lampa house in central Helsinki

The Finnish family-owned investment company Hartwall Capital Ltd has today bought the Lampa house in central Helsinki from Hotelli Helena Oy’s bankruptcy estate.

Hartwall Capital intends to open the property’s street level for the public and to use the office space of the property for the company´s business operations. Remaining commercial and office space will be offered for rent.

The objective is to renovate and restore the building with respect for its cultural and historic background. Hartwall Capital also wants to participate in responsible development and revitalization of the important historic area of central Helsinki in accordance with the objectives of the City of Helsinki.

Renovation of the property will start in the summer of 2012 and is expected to be completed during the summer of 2013.

Bertel Langenskiöld, Managing Director, said: “In 1836, the beverage company Hartwall started its business operations in the same quarters in the Sederholm House. With our roots in the City of Helsinki and with Helsinki always having played an important role in the history of the company, we have a natural interest in participating in the development of this historic part of Helsinki.”

For further information, please contact:
Guy Reinikainen, CFO: +358 (0)9 6818 560

Appointments at Karelia-Upofloor

Mr. Peter Therman, MSc, (44) has been appointed President and CEO of Karelia-Upofloor as of 26 May 2012.

Peter Therman has been a member of the Board of Directors of Karelia-Upofloor since 2010. Since 18 February 2011 he has been Chairman of the Board of Directors.

The Board of Directors has appointed Mr. Bertel Langenskiöld, Managing Director
of Hartwall Capital Oy Ab, as the new Chairman of the Board of Directors.

“I want to thank Mikko Kilpeläinen, curent CEO of Karelia-Upofloor, for his valuable efforts on behalf of the company during difficult times. Through his hard work and persistence Mikko has turned a negative trend into positive growth. This is a good start.” said Peter Therman.

For further information, please contact:
Bertel Langenskiöld, Managing Director, +358 9 6818 560
www.kareliaupofloor.com

Bertel Langenskiöld appointed Managing Director of Hartwall Capital

Bertel Langenskiöld, 60, has been appointed Managing Director for Hartwall Capital as of the 1st of June 2011 as the previous Managing Director, Thomas von Hertzen, steps down at the end of March 2011. Klaus Grönbärj will act as interim Managing Director during the transition period.

For further information, please contact:
Tom von Weymarn, Chairman of the Board: +358 (0)9 6818 560