COPENHAGEN, Denmark, Jan. 11, 2002 (PRIMEZONE) -- In January 2000, Nilfisk-Advance acquired a 70% interest in the Italian Company, CFM S.p.A., which develops and manufactures industrial vacuum cleaners. As a part of the transaction, option agreements valid until 2004 were entered into - whereby Nilfisk-Advance was both committed and entitled to acquire full ownership of the company.
Ownership of CFM has given the Nilfisk-Advance group a boost in the industrial vacuum cleaner sector - technologically as well as in market and earnings terms.
With effect from January 1, 2002, Nilfisk-Advance acquires the remaining 30% of CFM's share capital. The acquisition sum amounts to DKK 43 mil. This transaction is expected to influence the 2002 result positively after deduction of financial expenses and goodwill amortization.