Incus Investor ASA has signed a share purchase agreement with Cascade
Corporation (USA) regarding 100% of 
the shares in Scana Steel Booforge AB on May 16, 2019. Scana Steel Booforge AB
is a leading manufacturer of large forklifts and is located in Karlskoga,
Sweden. 
Cascade Corporation is a global manufacturer of equipment and forks to the
forklift industry.

In 2018, Scana Steel Booforge had a turnover of NOK 80 million and a profit
before tax of  NOK - 2 million.

The sales price is MUSD 2.0 based on an adjusted cash and debt-free balance. The
sale is expected to have a positive effect on earnings of NOK 3 million for the
Group, and an expected decrease in interest-bearing debt of appx. NOK 38 million
for the Group, compared to 31. March 2019.

"We would like to thank for the time together with Scana Steel Booforge, and we
are convinced that the new buyer will be a good new home for the company. We
wish both the employees and Cascade good luck for the future ”, says Styrk
Bekkenes, CEO of Incus Investor.

The closing date is expected to be May 23, 2019.
 


For further information please contact:
Styrk Bekkenes, CEO Incus Investor ASA, mobile +47 404 03 528
Kjetil Flesjå, CFO Incus Investor ASA, mobile: +47 900 41 213