Cranab AB acquiring today whole Vimek AB.

Vimek become a 100% owned subsidiary of Cranab when Cranab today acquires the ownership in Vimek from Lars-Gunnar and Nils-Erik Nilsson and their company Ideservice Br. Nilsson AB. Already for more than five years ago, Cranab acquired the majority of the successful and leading manufacturer of small forestry equipment, now to acquire all shares in the company. Cranab has over the years successfully owned and developed Vimek along with Lars-Gunnar and Nils-Erik Nilsson. Both companies are having their operations in Vindeln, close to Umeå.

Vimek has developed well the last few years with a wide and strong product line, which is produced in the past three years, in a new and efficient factory. In recent years, Vimek have in its segment become a market leader in many of Europe's most important forest markets such as Sweden, Poland and the Czech Republic. Vimek has also managed to establish sales in countries outside Europe like North America and Japan.

"For us it has been a great privilege to run a business together with innovative entrepreneurs Lars-Gunnar and Nils-Erik, we ourselves believe that together we managed to take Vimek a step further, to become today in a market leading position for small and environmentally friendly forestry machines "says Fredrik Jonsson, CEO of Cranab AB.

"We have had a fantastic inspiring partnership together with Hans Eliasson and Fredrik Jonsson at Cranab and are happy that we today with warm hands will hand over our share of the company to Cranab" says Lars-Gunnar Nilsson, innovators and product developer in Vimek AB.

Lars-Gunnar will continue part time with some product development and consultancy work for Vimek and Nils-Erik is since two years a passionate forestry interested pensioner.

Vimek will continue to be led by CEO Fredrik Lundberg and company operations and plans will be unchanged. Fredrik Jonsson will continue as Chairman of Vimek.

For further information, please contact CEO in Vimek, Fredrik Lundberg + 46 933 135 20 or Chairman of Vimek and CEO in Cranab, Fredrik Jonsson +46 933 135 01.

Vimek is a leading manufacturer of small scale forest machines. The company has 20 employees and sales of approximately 50 million SEK with more than half the volume sold on export. Cranab is the leading manufacturer of cranes and grapples for the professional forestry and brush wood cutting heads for clearing beside the road. Cranab has about 160 employees and a turnover of nearly 250 million. The company concern has a turnover of approximately 300 million with around 200 employees.All activities such as product development, manufacturing and marketing is located in Vindeln outside Umeå.