TOREKOV, Sweden--(BUSINESS WIRE)--Regulatory News:
Family-owned company Herenco has acquired Backahill’s shareholding in Nolato (STO:NOLAB). Backahill is owned by the family of Erik Paulsson. The stake accounts for approximately 3.1% of the capital and 16% of votes in Nolato.
“We have followed Nolato for a number of years. We think it’s a great company and we’re pleased to have acquired this shareholding,” said Lovisa Hamrin, CEO of family-owned company Herenco.
The Hamrin family has been involved in business for 150 years, and its operations include the Jönköpings-Posten newspaper. In addition to its publishing activities, the company owns businesses including the Herenco industrial group which has annual sales of SEK 3.5 billion and 1,600 employees.
Erik Paulsson has been a shareholder in Nolato since 1990. Erik was also a member of Nolato’s Board between 2003 and 2014. The sale of the shareholding is part of a greater focus on the property sector.
“It’s gratifying to have a new and long-term industrial co-owner which, together with the Board and management, can continue to develop the Nolato Group based on its established strategy,” said Chairman of the Board Fredrik Arp.
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Nolato is a Swedish group with operations in Europe, Asia and North America. We develop and manufacture products in polymer materials such as plastic, silicone and TPE for leading customers within medical technology, pharmaceuticals, telecom, automotive, hygiene and other selected industrial sectors. Nolato’s shares are listed on Nasdaq Stockholm in the Mid Cap segment, where they are included in the Industrials sector.
This information is such that Nolato AB is obliged to disclose under the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. This information was made public on 15 June 2016 at 2.00 pm.
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