Panostaja Oyj
PANOSTAJA BUYS 60 % SHAREHOLDING OF SELOG OY AND EXPANDS ITS OPERATIONS TO CEILING MATERIAL WHOLESALE BUSINESS
Panostaja Oyj 07.11.2012 09:30 Dissemination of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Panostaja Oyj Stock Exchange Bulletin, November 7, 2012, 10:30 PANOSTAJA BUYS 60 % SHAREHOLDING OF SELOG OY AND EXPANDS ITS OPERATIONS TO CEILING MATERIAL WHOLESALE BUSINESS Panostaja Oyj has bought 60 % shareholding of Selog Oy, a company supplying material, calculation and design services for ceiling construction. In 2011, the company had net sales of MEUR 9.3. As a result of the transaction, Panostaja expands its business operations and establishes within the Group a new business area specializing in ceiling material wholesale services. The price of the acquisition is not disclosed. Selog Oy's services are suited for both renovation and modernization construction projects and new building construction projects. The increasing significance of acoustics in construction and the continued growth in renovation construction support Panostaja's objective to build around Selog a new growing business area. As part of the arrangement, Selog Oy's owners continue as minority shareholders in the new business area. Selog Oy Managing Director Simo Tuokko will continue as the company's Managing Director and also as a major shareholder. As a result of the transaction, Panostaja Oyj's shareholding in the new business area is about 60%. The transaction does not affect Panostaja's result management of 29.10.2012 Panostaja Oyj Juha Sarsama CEO Further information: CEO Juha Sarsama +358 40 774 2099 Marko Seppä, the founder and a board member of Selog Oy +358 40 570 8457 Panostaja is an investment company developing Finnish SMEs in the role of an active majority shareholder. The company aims to be the most sought-after partner for business owners selling their companies as well as for the best managers and investors. Together with its partners, Panostaja increases the Group's shareholder value and creates Finnish success stories. The Panostaja Group employs approximately 1,200 people. Panostaja's shares (PNA1V) are quoted on the NASDAQ OMX Helsinki Stock Exchange. In the 2011 financial year, the Group's net sales totaled MEUR 163.2. www.panostaja.fi Established in 2005, Selog Oy is a specialty supplier of ceiling materials to the sector's professionals. The company supplies its customers ceiling materials and technical consultancy in the form of calculation and design services. Selog has grown rapidly into one of the most significant and best-known companies in the sector. The company's head office is located in Helsinki. In 2011, the company had net sales of MEUR 9.3 and employs about 15 staff. News Source: NASDAQ OMX 07.11.2012 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Panostaja Oyj Finland Phone: Fax: E-mail: Internet: ISIN: FI0009800379 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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