Swedish Match and Kav Orman
San.A.S., a company controlled by Koç Holding A.S. - the leading
industrial conglomerate in Turkey with a turnover of 13 billion
USD - have entered into an agreement on forming a joint venture
on a 60/40 basis (SM/KAV) to develop match, lighter and tobacco
business in Turkey and the Turkic Republics, (Azerbaijan,
Kyrgyztan, Turqmenistan etc.), a fast growing market area of some
120 million inhabitants.
Kav is the leading match producer
in Turkey. The turnover in 1996 for the match business was some
USD 14 million.
Swedish Match - active in lights
and tobacco business- have a Group Sales amounting to
approximately USD 1 Billion. Swedish Match is the leading match
producer in the world.
The match business has an annual
turnover of USD 130 million and some 2000 employees.
The agreement constitutes the
establishing of a new company in Turkey in which Kav will
transfer its existing match business with its fixed assets. The
establishment will be executed once all necessary approvals of
relevant authorities will be received.
AQUISITION IN SWEDEN
Swedish Match makes a public offer
of SEK 170 per share for the shares of Treab Plus AB, a Swedish
distributor of tobacco and tobacco related products as well as
postcards, wrapping paper etc to retailers in Sweden. The value
of the offer represents SEK 16,5 million. The turnover in 1996
for Treab Plus was SEK 105 million (USD 14 million).
The offer is subject to Swedish
Match reaching at least 90% of the shares and receives the
approval of the Swedish Competition Authority.
For further information, please
contact:
Bo Aulin, Senior Vice President,
Corporate Affairs Work: +46 8 658 03 64
Mobile: +46 70 558 03 64
Home: +46 8 768 45 22
Boel Sundvall, Vice President,
Investor Relations, Corporate Affairs Work: +46 8 658 01 73
Mobile: +46 70 651 39 09
Home: +46 8 25 87 12
Göran Ekdahl, Vice President,
Communication, Corporate Affairs Work: +46 8 658 01 62
Mobile: +46 70 858 11 62