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Paris, July 21, 2005 - Nexans, the worldwide leader in the cable industry, has signed an agreement with Ahlsell for the sale of its distribution activities located in Norway (Nexans Distribusjon AS), for an amount of 45 million euros. Ahlsell is a Swedish trading company specialized in products and peripheral services to professional users in Heating & Plumbing, Electrical, Tools, Refrigeration and DIY (Do-It-Yourself).
"This sale is in keeping with the framework of our business portfolio tightening around our strategic trades", says Gérard Hauser, Chairman and CEO of Nexans. "Ahlsell AS has demonstrated that it is committed to developing the business of Nexans Distribusjon AS and is the best partner to pursue the development of this activity."
"Nexans Distribusjon is a strong positioned and well established company, which together with the Norwegian electro activity of Ahlsell will make us a leading player in the Norwegian market", says Göran Näsholm, CEO of Ahlsell AB.
Nexans Distribusjon AS is specialized mainly in the distribution of electrical equipment in Norway. Nexans Distribusjon AS had sales in 2004 of NOK 934 million (118 million euros) and had 292 employees as of December 31, 2004.
The agreement is subject to the approval of the Norwegian Competition Authorities.
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