PMC divests Servi AS of Norway

2013-06-25

PMC has reached an agreement to sell its subsidiary Servi AS (PMC Group Norway AS) to Norwegian investment firm Ferd Capital.

Servi AS is the leading vendor of hydraulics to the Norwegian offshore industry, and also enjoys attractive development opportunities outside Norway.

PMC is the leading provider of hydraulic solutions for industry in the Nordics. Many of the Group's customers are active on a global market, and the Group follows in its customers' footsteps around the world. PMC is also endeavoring to secure global leadership in a number of application areas.

After the sale, PMC Group will have sales of just over SEK 2.2 bn and subsidiaries in Sweden, Denmark, Finland, Poland, China, India and the US.

The transaction is subject to approval by the Norwegian Competition Authority.

"We are pleased with this solution, which will allow Servi to continue to invest and grow in the global offshore industry, and also allow PMC Group to continue to develop its different companies", commented Mikael Andersson, President and CEO of PMC Group.

For more information, please contact:

Mikael Andersson, President and CEO of PMC Group AB, tel +46 709 42 16 15

Björn Arne Gundersen, President of Servi AS, tel +47 916 00731