Swisslog Sells German Subsidiary Transnorm

Logistics specialist Swisslog has successfully concluded the sales negotiations for its subsidiary Transnorm System GmbH. The buyer of the Transnorm group, with headquarters in Harsum, Germany, and subsidiaries in Grand Prairie, Texas; Tewkesbury, UK; and Kluang, Malaysia, is the private equity group Nord Holding.

Transnorm System GmbH was part of the Swisslog group since it was taken over in 1997. The company, specializing in the development and implementation of conveyor installations, systems and components, was most recently an integral part of the Material Flow & Robotic Systems division, together with the Swisslog subsidiaries Schierholz, Translift and Cimcorp.

Within the framework of its strategic reorganization, Swisslog decided to sell off four companies that were no longer part of the company's core business. Schierholz and Translift were sold in August 2003. In December 2003, Swisslog handed over its Finnish subsidiary Cimcorp Oy to the company's management. The sale of the Transnorm group concludes Swisslog's focusing and divestment program started in March 2003.

Nord Holding specializes in medium-sized businesses. As financial investor, it focuses on the financing of company successions, the spin-off of strategically non-relevant subsidiaries out of group companies as well as growth financing of companies in all German-speaking countries.

The operative management of the Transnorm group will remain in the hands of its management headed by Detlef Walter, which will financially participate in the company.

Transnorm currently has a staff of around 350 employees and generated a worldwide turnover in 2003 totaling CHF 74.7 million. The company will continue to concentrate on the further development of modular material flow technologies as well as commissioning and distribution installations.

For more information, visit: www.swisslog.com.

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