AFRY press release generic image

ÅF sells its stake in ÅF-TÜV Nord

Mon, 09/27/2010 - 13:47

For further information, please contact:

Jonas Wiström, President/CEO                     +46 (0)70-608 12 20

Viktor Svensson, Director, Corporate Information +46 (0)70-657 20 26

ÅF has reached agreement today about the sale of its 50 percent stake in ÅF-TÜV
Nord, which provides services relating to third-party inspections for the
nuclear power industry. The purchaser is the other joint owner, the German
technical inspection company, TÜV NORD.

The purchase sum agreed is SEK 32.5 million, which will result in a capital gain
for ÅF of approximately SEK 30 million. The transaction will have a positive
effect on ÅF's third-quarter earnings for 2010.

ÅF-TÜV Nord has 13 employees and reported sales of SEK 42 million for 2009.
Operating profit for 2009 totalled SEK 5.3 million.

The sale is a further strategic step towards realigning ÅF as a leading
technical consulting company. In March 2010 ÅF sold its Inspection Division,
ÅF-Kontroll, to the German inspection company, DEKRA.

Corporate Information

ÅF is a leader in technical consulting, with expertise founded on more than a
century of experience. We offer highly qualified services and solutions for
industrial processes, infrastructure projects and the development of products
and IT systems. Today ÅF has more than 4,000 employees. Our base is in Europe,
but our business and our clients are found all over the world.

About the TÜV NORD Group

With over 10,000 employees TÜV NORD Group is one of the largest technical
service providers in Germany. It also operates in over 70 countries in Europe,
Asia, Africa, and the Americas. The Group owes its leading market position to
its technical competence and a broad range of advisory, service, and testing
services in the Mobility, Industrial Services, International, Natural Resources
and Training and Human Resources fields. TÜV NORD Group is firmly committed to
its guiding principle and watchword: "Making our world safer".

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