Orkla ASA is considering a listing of Gränges AB

08 May 2014 | GROUP RELEASE

The Board of Directors of Orkla ASA (OSE:ORK) has decided to explore the possibility of listing its wholly-owned subsidiary Gränges AB (“the company”) on NASDAQ OMX Stockholm. This decision is part of Orkla’s long-term strategy to become a pure-play branded consumer goods company.

Gränges is the leading global manufacturer of rolled aluminium for heat exchangers, primarily for the automotive industry. The company has production facilities in Sweden and China, and had a total of 971 employees at the end of 2013.

Gränges had a turnover of NOK 4.0 billion in 2013, and achieved operating profit (EBITA) of NOK 337 million. In the first quarter of 2014, Gränges posted operating profit (EBITA) of NOK 117 million, compared with NOK 85 million in the corresponding period of last year. The increase is ascribable to higher volume and the effects of improvement programmes.

This information is subject to disclosure requirements pursuant to section 5-12 of the Securities Trading Act.

Orkla ASA
Oslo, 8 May 2014

Dowload press release here

For further information, please contact:

Håkon Mageli, EVP Communications & Corporate Affairs
Tel: +47 928 45 828

Rune Helland, SVP Investor Relations
Tel: +47 977 13 250