Annual Report 2008
X A N O I N D U S T R I A B ( P U B L )
XANO Group
XANO in brief ...4
Managing Director’s comments ...6
The share and shareholders ...8
Business concept ...10
Services and production resources ...12
Personnel ...14
Environment and quality ...16
Business unit operations Rotational Moulding ...18
Plastic Components ...22
Precision Technology ...26
Industrial Solutions ...30
Financial information Directors’ report ...34
Group Income statement ...39
Balance sheet ...40
Changes in equity ...42
Cash fl ow statement ...43
Accounting principles ...44
Notes ...46
Defi nitions ...55
Parent Company Income statement ...56
Cash fl ow statement ...57
Balance sheet ...58
Changes in equity ...60
Accounting principles ...61
Notes ...62
Audit report ...67
Board of Directors, management and auditors ...68
Corporate governance Corporate Governance Report ...70
Contents
The Annual General Meeting (AGM) will take place on Thursday 7 May 2009 at 3.00 p.m. at XANO’s premises in Industri- gatan 14 B in Jönköping.
Notifi cation of participation
Shareholders wishing to attend the AGM must be included in the share register managed by Euroclear Sweden AB (former VPC) on 30 April 2009 and must notify the company of their in- tention to attend the AGM no later than 4.00 p.m. on Thursday 30 April 2009 at the address XANO Industri AB, Industrigatan 14 B, SE-553 02 Jönköping, Sweden, by telephone +46 (0)36 31 22 00 or by email info@xano.se.
Shareholders whose shares are registered in the name of a nominee must temporarily rere- gister their shares in their own name well in ad- vance of 30 April 2009 in order to be entitled to attend the Annual General Meeting.
Dividend
The Board of Directors proposes a dividend of SEK 1.50 per share. The record date will be 12 May 2009. If the AGM approves of the pro- posal, the dividend will be issued by Euroclear on 15 May 2009.
Nomination committee
A nomination committee was appointed at the 2008 AGM consisting of Johan Rapp (chair- man), Petter Johansson and Lars Persson. The task of this committee prior to the 2009 AGM is to nominate a Chairman of the Board and other Board members, a chairman for the AGM and fees for the board and auditors.
Business
The AGM will consider the business that, in ac- cordance with the Swedish Companies Act and the Articles of Association, must be considered at the AGM, such as the presentation of the an- nual accounts and the auditor’s report, decisions concerning issues such as adoption of the in- come statements and balance sheets, discharge from liability for Board members and the Mana- ging Director, as well as the election of Board members.
Other business is listed on the agenda that will be sent to shareholders in April. The annual report will be distributed to all shareholders at the same time.
XANO Industri AB (publ) “XANO” is a Swedish public limited liability company which is subject to Swedish law. All amounts are given in Swe- dish kronor, abbreviated as SEK. Million kronor is abbreviated as SEK m, and thousand kronor as SEK 000. Figures in parentheses concern 2007 unless stated otherwise.
Annual General
Meeting
3
• Net sales were SEK 1,402 million (1,361)
• Profi t after tax amounted to SEK 45 million (73)
• Earnings per share were SEK 6.70 (10.80)
• Profi t after fi nancial items amounted to SEK 59 million (103)
• Acquisition of Mikroverktyg in Södertälje
In November, all the shares in Mikroverktyg AB in Södertälje, Sweden, were acquired.
Mikroverktyg specialises in small to medium-sized fi ne mechanical parts and toothed gears, for which the quality and precision requirements are extremely demanding. The company operates primarily as a subcontractor to the Nordic manufacturing industry, and the aviation and defence industries in particular. Mikroverktyg has 35 employees and sales of SEK 42 million with good earnings. The company has been consolidated in the XANO Group as from 1 October 2008.
The 2008 fi nancial year
385 525 871 1,361 1,402
Net sales
(SEK m) 1,500
1000
500
0 2004 2005 2006 2007 2008
100 90 80 70 60 50 40 30 20 10 0
25 40 84 103 59
Profi t after fi nancial items
(SEK m)
2004 2005 2006 2007 2008
30
25
20
15
10
5
0
7.9 17.9 27.1 20.1 11.2
Return on equity
(%)
2004 2005 2006 2007 2008
Key fi gures in brief 2008 2007 Change (%)
Net sales SEK m 1,402 1 ,361 3
Operating profi t SEK m 94 126 -26
Profi t after fi nancial items SEK m 59 103 -43
Investments in fi xed assets SEK m 129 221 -42
Gross margin % 17.5 19.4 -10
Operating margin % 6.7 9.3 -28
Profi t margin % 4.2 7.6 -45
Capital employed SEK m 1,049 933 12
Equity SEK m 414 386 7
Balance sheet total SEK m 1,258 1,191 6
Return on equity % 11.2 20.1 -44
Return on capital employed % 9.7 15.3 -37
Return on total capital % 7.7 11.7 -34
Equity/assets ratio % 33 32 2
Proportion of risk-bearing capital % 36 35 3
Interest coverage ratio multiple 2.6 5.1 -49
Average number of employees 1,048 932 12
For defi nitions, see page 55.
This is XANO
XANO consists of entrepreneurial companies based in the Nordic and Baltic region. These companies provide manufacturing and development services for industri- al products and automation equipment. They operate within well-defi ned niches and possess a high level of expertise within their respective technical fi elds. Each unit is anchored locally and developed according to its own potential. At the same time, the Group affi nity creates economies of scope for the companies and their customers. The Group is divided into four busi- ness units: Rotational Moulding, Plastic Components, Precision Technology and Industrial Solutions.
Sales in 2008 amounted to SEK 1,402 million.
XANO is listed on the NASDAQ OMX Stockholm Small Cap.
Customer-specifi c manufacturing
The majority of the Group’s companies have service functions at their disposal, which enables them to carry out complete customer assignments. The aim is to achieve the best production economics and func- tionality for each individual product.
The Group includes companies which process
XANO in brief
plastic through extrusion, injection-moulding, machi- ning and rotational moulding. A number of the com- panies in the Group machine various metallic materi- als. Sheet metal is processed through pressure-turning, laser-cutting and edge-bending. Products with special purity requirements are manufactured and assembled in clean rooms in accordance with ISO standards. The Group also possesses extensive experience of the sys- tem assembly of complex products.
Most large assembly runs are carried out in low- cost countries by highly trained mechanics, with quality as the highest priority. Logistics services in- clude storage, packaging and distribution either using the customers’ own packaging or directly into the customer’s manufacturing process.
In-house-developed products
Many of the Group’s companies have developed their own product ranges within their respective fi elds of expertise. Within Industrial Solutions, systems which are designed to rationalise customers’ production processes are manufactured. Design, development of control systems and electronics, and fi ne mechanical assembly are carried out in-house.
2003 2004 2005 2006 2007 2008
Companies within the Group after the distribution of ITAB
Shop Concept.
Ackurat Bladhs Cipax Inmedic Profi lspecialisten
Resinit
LK Precision Värnamo Industri
Cipax Saue Eslöv Mekaniska
Verkstad NPB
Segerströms Baltic Components
(merged with Bladhs)
Fredriksons Cipax Björkelangen
Mikroverktyg 4
XANO IN BRIEF
1,500
1,000
500
0
Profi t and acquisition history 2003 - 2008
(continuing operations)150
100
50
0 2003 2004 2005 2006 2007 2008
Operating profi t, SEK m Net sales, SEK m
Sectors
16 % 22 %
19%
17 %
22 % 7 %
Packaging industry Other industry Infrastructure and engineering
Medical Technology Automotive Marine
XANO IN BRIEF 5
SHARE OF GROUP KEY INFORMATION COMPANIES
Net sales Operating profit Employees
Plastic Components covers companies that offer deve- lopment and manufacturing services within injection moulding and extrusion of plastic, in addition to pro- duction and assembly in classifi ed clean room environ- ments. The products include both customer-specifi c components and systems, as well as in-house-developed products.
Net sales 2008 SEK m 363.0
Growth % 1.3
Operating profi t SEK m 31.1
Operating margin % 8.6
Average number of employees 367
Ackurat Bladhs Inmedic Profi lspecialisten
PLASTIC COMPONENTS
26% 28 % 35%
GROUP TOTAL
Net sales Operating profit Average number of employees Operating margin Growth
SEK 1,402 m SEK 94 m 1,048 6.7% 3.0%
Net sales Operating profit Employees
Rotational Moulding consists of companies that manu- facture plastic products in the form of components and systems through rotational moulding. The enterprises supply both customer-specifi c and in-house-developed products in equal measure. The primary product seg- ments include boats and products for the automotive in- dustry, as well as industrial tanks and buoyancy devices.
Net sales 2008 SEK m 186.7
Growth % 18.5
Operating profi t SEK m 7.8
Operating margin % 4.2
Average number of employees 158
Cipax
ROTATIONAL MOULDING
13% 7 % 15%
Net sales Operating profit Employees
Precision Technology includes companies that cover component and system manufacture through advanced cutting-machining of metal and plastic for the produc- tion of components with demanding requirements for quality and precision.
Net sales 2008 SEK m 377.1
Growth % 6.2
Operating profi t SEK m 29.2
Operating margin % 7.7
Average number of employees 226
Eslöv Mekaniska Verkstad LK Precision
Mikroverktyg Resinit Segerströms Värnamo Industri
PRECISION TECHNOLOGY
l f l
27% 27% 22 %
Net sales Operating profit Employees
Industrial Solutions comprises companies that supply customer-specifi c automation solutions for the food and medical technology industries, in addition to packaging machines for beverage and other food packaging. These enterprises also develop their own products in the form of carrier systems for food products and handling equip- ment for a variety of applications.
Net sales 2008 SEK m 479.5
Growth % -3.2
Operating profi t SEK m 41.4
Operating margin % 8.6
Average number of employees 289
Fredriksons
INDUSTRIAL SOLUTIONS
NPBN t l O ti fit E l
34% 38 % 28 %
6
MANAGING DIRECTOR’S COMMENTS
A lot of hard work has been put in aimed at minimi- sing the effects and, in the longer term, restoring our good profi t margins. In this more restrained phase, measures which generate a strong cashfl ow are be- ing prioritised. A strong emphasis is also being placed on aggressive marketing techniques, particularly with a view to maintaining our strong position and being ready to make the most of the opportunities offered when the economy takes an upward turn again.
Developments during 2008
The Group’s results during the fi rst nine months of the year largely developed in line with expectations with good order infl ows within most business units. During the third quarter, we began to see a downturn in the economy and the beginning of a cautious approach to the placement of orders. We therefore began the work to adapt each organisation according to the changed situation, primarily through returning out- sourced production in-house and staff cutbacks. The severe economic slump during the fourth quarter has affected all business units within the Group and most markets in which the Group’s products are sold.
The costs of adapting to the new market situation were considerable. From the beginning of the third quarter last year to the end of the fi rst quarter this year, we will have reduced our workforce by more than 20 per cent. The full effects of the savings will not become apparent until the second quarter this year.
The relatively high interest rates during much of 2008 combined with a negative effect from exchange rate fl uctuations resulting from the weakening of the Swedish kronor against the Euro for example also re- sulted in a considerable drop in net fi nancial income.
During 2008, the Group’s turnover increased to SEK 1,402 million, compared with SEK 1,361 mil- lion in 2007. Despite this, we are reporting a result
Three strong quarters
followed by a marked downturn
for the full year which is considerably below that of the previous year. Increases in raw material prices and negative exchange rate fl uctuations have reduced the business units’ operating margins. High adaptation costs and sales costs have also impacted negatively on the result.
Operations
After having reported the Group’s operations under the segments Industry and Automation for a number of years, we have now created four business units:
Rotational Moulding, Plastic Components, Precision Technology and Industrial Solutions. This organisatio- nal change is intended to improve the opportunities for utilising the economies of scope that exist bet- ween the companies within the business units and also increase the exchange of expertise within certain areas.
Within Rotational Moulding, the year has been characterised by the work to redistribute production between Cipax’s various units in order to optimise resources. This has resulted in relocation of manufac- turing to Estonia, where capacity has been increased through investments in machinery and building exten- sions. The changes have also affected the sales organi- sations, which are now responsible for the customers in the respective countries. The restructuring has had a major impact on the result, which is substantially lower than the previous year. In order to utilise our resources even more effi ciently, we have decided to merge the Estonian factories, concentrating on Tae- bla, where capacity is now available. In Helsinki, we have opened a new sales offi ce for the active deve- lopment of the Finnish market. These measures mean that Cipax is well-equipped ahead of the impending economic recovery.
The companies within Plastic Components all de- veloped well during the fi rst nine months of the year.
During the fourth quarter, Ackurat, Bladhs and Profi l- specialisten were hit by a sharp downturn and as a re- sult reported a somewhat worse result than expected for the full year. However, Inmedic was not affected and recorded both a higher turnover and a better re- sult than during the previous year. During the autumn, a focus was placed on adapting costs through vari- ous measures including staff cutbacks and a review of procurement routines. Against this background, it is pleasing to note that the tender base is very healthy in all companies, which will hopefully result in a some- what higher level of activity during the second half of 2009.
For Precision Technology, the fi rst nine months also progressed as expected, but were followed by a
After fi ve years with a high rate of growth, we experienced a dramatic turnaround during the fourth quarter of 2008. All units within the Group have been affected to some extent by the eco- nomic crisis. Companies with manufacturing within medical tech- nology and the food industry have only been marginally affected.
Hardest hit are those who specialise in components and systems
for the heavy vehicle industry.
MANAGING DIRECTOR’S COMMENTS 7
sharp drop in incoming orders during the fourth quar- ter. The sharpest fall relates to companies with custo- mers within the automotive industry, such as Värnamo Industri. Segerströms has also been hit and has under- gone a year affected by the restructuring of the busi- ness. Companies with production for customers within medical technology experienced a slightly different picture, with weakening during the fi nal quarter but no sharp downturn. Within all companies, adaptation to the prevailing situation is under way at all levels.
However, Resinit and LK Precision have several new projects in the pipeline and are seeing reasonable de- mand. Recently acquired Mikroverktyg will contribute a good result despite the general state of the economy.
Within Industrial Solutions, both Fredriksons and NPB have had an active year as regards to market de- velopment, which resulted in the winning of a number of new customers. The companies have also entered new markets such as Poland for Fredriksons and the USA for NPB. Fredriksons’ initiative in China has also developed positively during the year. Despite these successes, volumes fell after the summer. The second half of the year has therefore seen projects aimed at cost savings, particularly staff reductions, but also the bringing inhouse of production which had previously been outsourced to subcontractors. Active work con- cerning strategic procurement will lead to a gradual reduction in costs. Fredriksons in particular has prio- ritised training initiatives and investments which will result in additional effi ciency improvements.
Acquisitions
As in previous years, we have invested a relatively large amount of resources in processes for acquisitions and disposals. We have had the benefi t of looking at many interesting companies, but only closed one acquisition – Mikroverktyg in Södertälje. Mikroverktyg specialises in small to medium-sized fi ne mechanical parts and toothed gears with demanding quality and precision requirements. The company operates as a subcontrac- tor to Nordic manufacturing industry in particular and has 35 employees and sales of SEK 42 million with a healthy net income.
We have also attracted interest concerning dis- posals. In January, a declaration of intent was signed with GP Förvaltnings AB, a wholly owned subsidiary of Nordstjernan Investment AB. XANO and GP jointly re- viewed the basis for a deal where GP would acquire a number of XANO companies operating within the fi eld of injection moulding. The negotiations were brought to an end in March as we were unable to agree on a deal. We are once again fully committed to the com- panies which were being considered for disposal.
Outlook for 2009
The current weak state of the economy presents both tough challenges and exciting opportunities.
The Group’s fi nancial position remains strong and the Group is continuing to actively look for pos- sible acquisitions, particularly companies that would complement our existing businesses. The economic situation could result in some interesting acquisition opportunities, and also open up new business opp- ortunities on the market side. However, we expect capacity utilisation to be generally low within many of the companies during the year.
The effects of the far-reaching measures which have been implemented, and which are being imple- mented, to restructure the companies will become apparent during the fi rst half of the year. The esta- blishment of the four new business units combined with the restructuring of these units increases the opportunities for economies of scope and exchange between the units. Together with further aggressive marketing initiatives, these measures will provide a fi rm footing for growth with profi tability when the economy recovers.
Jönköping, February 2009
Sune Lantz
8
THE SHARE AND SHAREHOLDERS
Price developments and turnover
During 2008, XANO’s share price fell by 74 per cent from SEK 117.75 to SEK 30.50. At the end of 2008, XANO’s market value therefore amounted to SEK 211 million, based on the most recent price paid. The number of shares sold amounted to 374,821, which corresponds to a turnover rate of 5.4 per cent during the year.
Convertible bond programme
The 2008 Annual General Meeting decided to approve the Board of Directors’ proposal to issue convertibles to employees. Convertibles were issued for a total of SEK 27,500,000, equivalent to 220,000 convertibles at the conversion price of SEK 125. During the pe- riod 1 May to 15 June 2012, each convertible may be converted to one Class B share in XANO. If all conver- tibles are converted to shares, the dilution will be 3.2 per cent of the share capital and 0.9 per cent of the number of votes.
The XANO share
XANO’s Class B shares were registered on the stock exchange on 5 December 1988. The share is now listed on NASDAQ OMX Stockholm in the Small Cap segment.
The share capital in XANO amounted to SEK 34.6 million, distributed between 1,950,000 Class A shares and 4,978,974 Class B shares. The quotient value is SEK 5 per share. Each Class A share gives entitlement to ten votes and each Class B share to one vote. All shares give equal rights to dividends.
Basic earnings per share
Net profi t in relation to the average number of outstanding shares.
Diluted earnings per share
Net profi t in relation to the average number of outstanding shares plus the average number of shares added at conversion of outstanding convertibles.
Cash fl ow from operating activities per share Cash fl ow from operating activities in relation to the average number of outstanding shares.
Equity per share
Equity in relation to the number of outstanding shares on the balance sheet date.
Direct yield
Proposed dividend in relation to the share price on the balance sheet date.
Defi nitions
Refers to the entire Group, including companies that have been demerged, dissolved or disposed of.
Share data
2008 2007 2006 2005 2004Average number of outstanding shares thousands 6,755 6,734 6,696 6,696 6,696
Average number of outstanding shares after
dilution thousands 6,950 6,924 6,886 6,791 6,696
Average number of shares in own custody thousands 166 179 303 415 415
Basic earnings per share SEK 6.70 10.80 12.30 6.90 3.40
Diluted earnings per share SEK 6.70 10.60 12.05 6.85 3.40
Cash fl ow from operating activities per share SEK 11.45 10.30 16.60 10.70 10.70
Total number of shares on balance sheet date thousands 6,929 6,913 6,913 7,111 7,111 Number of shares in own custody on balance
sheet date thousands 140 170 217 415 415
Equity per share on balance sheet date SEK 61.05 57.20 49.60 41.10 35.20
Share price on balance sheet date SEK 30.50 117.75 117.50 68.50 44.00
Share price in relation to equity % 50 206 237 167 125
Proposed dividend SEK 1.50 3.50 4.00 3.50 1.25
Direct yield % 4.9 3.0 3.4 5.1 2.8
Shareholders
The number of shareholders decreased during the year. At the end of 2008, XANO had 1,408 sharehol- ders, compared with 1,557 shareholders at the same time during the previous year. The ten largest share- holders accounted for 94.7 per cent of the votes and 81.0 per cent of the capital.
Shares in own custody
A total of 415,000 Class B shares were acquired during 2003, corresponding to 5.8 per cent of the share capital. During 2006, a reduction in the share capital was carried out through the withdrawal with- out repayment of 198,000 of the shares which were repurchased. A total of 47,000 and 30,000 own sha- res were transferred during 2008 and 2009 respec- tively in connection with company acquisitions. The number of shares in own custody thereafter amounts to 140,000. After deduction of the company’s own holding, the number of outstanding shares amounts to 6,788,974 as of the balance sheet date.
Dividend policy
The board of directors proposes to the annual general meeting a dividend of SEK 1.50 per share (2.50) for the 2008 fi nancial year.
During the previous year, the Annual General Meeting also approved an extra dividend of SEK 1.00 per share. The total proposed dividend amounts to SEK 10.2 million (23.6).
It is the aim of the board of directors that over
an extended period of time the dividend will follow
developments in the result and correspond to 20 to 30
per cent of net income after tax. The annual dividend
share should, however, be viewed in relation to any
repurchases of shares.
THE SHARE AND SHAREHOLDERS 9
140 120 100
80
60
40
20
2004 2005 2006 2007 2008
400
300
200
100 XANO B
OMX SMALL CAP STOCKHOLM_PI Trading volume, thousands
© NASDAQ OMX
Price trend XANO B
Largest shareholders,
31.12.20081) of which Per centage (%) of Class A Class B voting rights share capitalThord Johansson with company 1,282,200 585,100 55.1 27.5
Johan Rapp with company 540,000 1,563,545 28.6 31.0
Kennert Persson 103,100 303,700 5.5 6.0
Christer Persson with family 24,700 170,900 1.7 2.9
Svolder AB – 314,801 1.3 4.7
Anna Benjamin – 150,000 0.6 2.2
Petter Johansson – 150,000 0.6 2.2
Stig-Olof Simonsson – 138,100 0.6 2.0
Sune Lantz with family – 97,400 0.4 1.4
Spiltan Aktiefond Sverige – 74,100 0.3 1.1
Others – 1,291,328 5.3 19.0
Total number of outstanding shares 1,950,000 4,838,974 100.0 100.0
Shares in own custody – 140,000
Total number of shares 1,950,000 4,978,974
1) Based on information in the public share register and the nominee list of owners from the Swedish Central Securities Depository and Clearing Organisation with a registration date of 30.12.2008.
Share capital trend
Year Transaction
Change in share capital, SEK 000
Total share capital, SEK 000
Total number of shares
Quotient value, SEK
Opening value 50 50 500 100
1985 Bonus issue 1,150 1,200 12,000 100
1986 Bonus issue 6,800 8,000 800,000 10
1987 New share issue 500 8,500 850,000 10
1988 New share issue 2,000 10,500 1,050,000 10
1992 New share issue through conversion 91 10,591 1,059,100 10
1993 New share issue through conversion 536 11,127 1,112,700 10
1995 New subscription through options 725 11,852 1,185,200 10
1997 2:1 split 0 11,852 2,370,400 5
1998 Bonus issue 2:1 23,704 35,556 7,111,200 5
2006 Reduction in share capital -990 34,566 6,913,200 5
2008 New share issue through conversion 79 34,645 6,928,974 5
Ownership structure
Distribution of shares, 31.12.2008
Number of Number of Percentage shares owners of shares
1 - 500 878 2.2
501 - 1,000 287 3.3
1,001 - 5,000 180 5.9 5,001 - 10,000 32 3.2 10,001 - 50,000 20 5.1 50,001 - 100,000 2 2.3
100,001 - 9 78.0
Total 1,408 100.0
10
BUSINESS CONCEPT
Active ownership in
entrepreneur-driven companies
XANO will develop, acquire and operate manufacturing businesses with unique or market-leading products and systems with related services.
XANO will own niche engineering companies that have industries in northern Europe as their principal markets. XANO will generate value for shareholders by exercising both active ownership and management by objectives.
Stable profi tability and high growth
XANO’s organic growth will surpass general market growth. In addition, bu- sinesses and companies will be acquired. The profi t margin will amount to eight per cent during an economic cycle. The equity/assets ratio will exceed 35 per cent.
Market-leader within selected segments
XANO will be a leading player within selected market segments. XANO will create strong units of companies with optimal synergy utilisation.
Develop, acquire and operate niched companies
XANO will develop, acquire and operate niched companies and through active ownership create added value for the shareholders. The XANO companies will have a high technical content in order to satisfy customers’ demands. This re- quires XANO to operate within well-defi ned niches. XANO companies will be locally based; being close to customers ensures the company is familiar with the customers’ processes and needs, and also eliminates language barriers.
The level of service and delivery readiness will be high. XANO companies will strive to develop long-lasting relationships with both customers and suppliers.
XANO will have a suffi ciently large market share within each niche to be an interesting partner for both customers and suppliers.
Advanced technology for selected target groups
XANO’s market offer consists of production and assembly of components and systems with related services, as well as development, manufacture and mar- keting of in-house products. The Group currently operates in Sweden, Esto- nia, Finland, Norway and China. The units all work within well-defi ned niches and have a high level of expertise within their respective technical areas. This advanced technical expertise enables the companies to create added value for customers.
Emotional and functional added values
XANO’s core values are entrepreneurial drive, long-term thinking and techni- cal know-how. They form the basis for all decisions that could impact on the Group.
FINANCIAL TARGETS
VISION
STRATEGY
MARKET OFFER AND OPERATIONS
CORE VALUES
BUSINESS CONCEPT 11
Entrepreneurial drive
The most important common de- nominator in the XANO companies is a profound entrepreneurial drive.
The units have fl at organisations, swift decision-making procedures and short solution lead-times. Ma- nagement is down-to-earth and accessible, and makes clear that all employees are expected to actively contribute. XANO’s role is to support the companies so that their innate driving forces produce the best pos- sible results.
Long-term thinking
XANO believes in strong relations- hips. Consequently, the Group in- vests long-term in its companies this gives each unit oppoturnities to de- velop and maximise their resources.
This approach is refl ected in custo- mer and supplier contacts in which long assignments and close collabo- ration generate prosperous projects.
Each company in the XANO Group is unique and the products cover a broad spectrum, ranging from com- ponents for analysis instruments to end-to-end packaging equipment.
Some companies are market-leaders and at the forefront of their niche.
Others have in-house-developed products that no other company de- livers. All XANO companies are dis- tinguished by their advanced techni- cal content, dedication to service and expert engineering advice.
Technical know-how
Major commitments demand broad knowledge and specialist expertise in everything from product development to logistics solutions. Component manufacturing, system supply or partner production – the form of co- operation varies according to the scope and size of the project. We strive for long and lasting relationships with both customers and suppliers.
12
SERVICES AND PRODUCTION RESOURCES
Advanced technical content
Project management
The project management function is aimed at satisfying the unique needs of each individual customer in the best possible way.
Clean rooms
Production and assembly in clean rooms are perfor- med when only minimal variations in the production environment are acceptable. Products with even higher purity requirements are manufactured and assembled in clean rooms in accordance with the ISO standards.
Clean rooms are classifi ed according to the level of particles in the air and the purity levels required to conform with a certain purity classifi cation.
Industrialisation
Capable and responsible personnel assure the entire production process through verifi cation of production equipment, materials and purchased components.
Design
The design process entails designing products and determining structural strength criteria as well as selecting material and production methods on the basis of these conditions. The objective is to achieve the best economy and functionality in the manufactur- ing of each individual product.
Assembly
Most large assembly runs are carried out in low-cost countries by well-trained mechanics, with quality as the highest priority. Assembly stations with sensor- controlled fi xtures ensure that the work is always properly conducted.
Logistics
Logistics services include storage, packaging and distribution – using the customers’ own packaging or directly into the customer’s manufacturing process.
Services
SERVICES AND PRODUCTION RESOURCES 13
Extrusion
Extrusion is used to manufacture both physically large and technically complex profi les. Liquid plastic material is pressed through a nozzle that has a particular shape and determines the product’s profi le. The material is cooled and the profi les are cut into pre-programmed lengths. These profi les are for example used as railings on boats and underwater cable ducts.
Injection moulding
Injection moulding is used for a wide variety of products ranging from furniture feet and air-valves in cars to medi- cal technology components and bibs for children. The machine consists of an injection unit and a mould-locking unit, as well as a moulding tool. The injection unit is fed with granulated plastic in a funnel that is heated. When the plastic is melted, the mould is opened and fi lled with the molten plastic which is then cooled and hardened.
Cutting machining
The material, plastic or metal in the shape of bars or blocks, is loaded in the machine and processed through turning or milling. Drilling, thread-cutting and burring is performed in the same sequence in order to meet the quality requirements. Examples of applications which use machined components include telecom equipment, medical device systems, hydraulic systems, heat exchangers and safety devices in cars.
Sheet metal processing
Sheet metal is processed through pressure-turning, laser cutting and edge-bending. The sheet metal components are for example used in X-ray equipment and food handling equipment.
System assembly
In-house-developed details and purchased components are assembled to produce complete products, sub- systems and systems. Examples of system assembly are carrier systems for the food industries and automation equipment for the packaging industry.
Production resources
Rotational moulding
Through rotational moulding, plastic details with a high abrasion resistance are made such as boats, industrial tanks and buoyancy. The plastic material is placed in the tool. During heating, the tool rotates around two axles to distribute the powder. The plastic melts and sticks to the inner walls of the tool. The tool is cooled and the plastic stiffens in the required shape.
14
PERSONNEL
Mix of gender, age and experience
As of 31 December 2008, the Group had 1,039 full- time employees, 281 (27 per cent) of whom were women. The average number of employees during the year was 1,048, of whom 295 (28 per cent) were women.
The average age of employees in the Group was 42 years for both women and men at the end of the year. The average period of employment was six years for women and seven years for men.
Absence due to illness
Absence due to illness during the year amounted to an average of 4.4 per cent at the Group’s Swedish companies. The portion of long-term absence due to illness was 35 per cent of all illness absences at the Swedish companies.
Committed and skilled personnel in stimulating and
healthy working environment
Continuous competence development
Competence development initiatives are constantly in progress within the areas in which the various compa- nies operate. The emphasis is on software training for handling the advanced equipment that is required for the increasingly automated manufacturing processes.
Healthcare and fi tness
Most Group companies are affi liated with corporate healthcare services where employees are offered re- gular health check-ups and, if necessary, a review of work-place ergonomics, rehabilitation studies, etc. In addition, Group companies provide fi tness benefi ts adapted to each company’s specifi c personnel compo- sition and work-place conditions.
Employees by business unit
0 50 100 150 200 250 300 350 1,000900 800 700 600 500 400 300 200 100 0
366 500 661 932 1,048
Average number of employees
56 - 65
46 - 55
36 - 45
26 - 35
18 - 25
Age distribution
(number)
0 50 100 150 200 250 300 350 124
202 321 214 178
2004 2005 2006 2007 2008
Women Men
Women Men
Key fi gures personnel
2008 2007Average number of employees 1,048 932
– in Sweden 695 627
– in other countries 353 305
– women 295 255
– men 753 677
Average age, women years 42 38
Average age, men years 42 39
Average employment time, women years 6 5
Average employment time, men years 7 7
Absence due to illness 1) % 4.4 4.3
– of which long-term 1) % 35 40
1) Refer to Swedish companies.
Plastic Components Industrial Solutions
Precision Technology Rotational Moulding 35%
28%
15 %
22 %
PERSONNEL 15
During 2008, XANO started an internal training ini- tiative for key employees at various levels within the Group – the XANO Management School. The business management teams within the various companies have nominated candidates for this training, which is organised in cooperation with an external training company. In total, around 20 employees represent virtually all Group companies. The training, which started in December 2008, takes one year and forms part of a long-term initiative aimed at developing and improving future managers within XANO.
Initiative for the future
The delegates meet over twelve intensive training days with a variety of subjects on the agenda, e.g. develop- ment processes and fi nancial issues. Between these training days, delegates work on exercises at home.
The training takes place at the offi ces of the vari- ous companies with external expert lecturers. The host company also presents a specifi c challenge where the delegates work together on problem-solving. The re-
sults are followed up during the next training session.
The delegates fi nd that the exchange of experience strengthens the network within the Group.
“The key benefi ts of the XANO Management School are the personal development and the oppor- tunity to build a common network within the Group,”
says Pernilla Fahlström, Human Resources Manager at Fredriksons.
Valuable exchange of experience
Another important aspect of the XANO Management School for the delegates is identifying natural syner- gies between the companies.
“As a manufacturer of customer-specifi c produc- ts, we often face similar questions. Many of us even have the same customers. With greater insight and knowledge concerning each other’s businesses, we can exploit the synergies more effectively,” says Max Danielsson, salesperson at Cipax.
XANO Management School makes the Group stronger
Participants Jonas Eriksson, Profil- specialisten, Magnus Wigenstedt, NPB, Kent Lundkvist, Värnamo Industri, Max Danielsson, Cipax and Sven-Åke Molin, Bladhs, during a workshop.
16
ENVIRONMENT AND QUALITY
Environmental factors
Factors affecting the environment resulting from the Group’s operations include, for example, emissions into the air and water, waste, wastewater, noise, packaging and transport. The Group’s business, ma- nufacturing processes and products are of such nature that the environmental risks are judged to be limited.
Operations with reporting duty
As of 31 December 2008, the Group was engaged in activities with a reporting duty in accordance with the Swedish Environmental Code in 13 Swedish sub- sidiaries. The reporting duty relates to manufacture of plastic products (six companies) and engineering industry with metal fi nishing (seven companies). Acti-
Continual improvements give
enduring competitive advantages
Ongoing quality improvements
In order to achieve the quality goal, ongoing invest- ments are being made in the form of human resources development and the upgrading of production equip- ment and processes.
Suppliers and other joint venture partners are se- lected on the basis of a quality perspective and activi- ties within marketing and sales are carried out in such a way that the expectations that are created amongst customers can be met. Most of the Group’s compa- nies are quality-certifi ed in accordance with ISO 9001 with internal and external controls and auditing.
QUALITY OBJECTIVES
Reduced environmental impact
Group companies will continuously strive to re- duce environmental impact through conscious selection of raw materials, processes and trans- ports. The companies must also be sensitive to the wishes of customers and conform with the market’s environmental requirements.
ENVIRONMENTAL OBJECTIVES
High quality on time
The work relating to quality within the Group is decentralised and each company has its own quality organisation. The quality and delivery reliability of the products and services of the Group’s companies is a vital competitive factor.
The Group has therefore established an overall goal of consistently offering products and ser- vices of a high quality and on time.
vities affect the external environment mainly through waste.
Environmental certifi cation
Efforts are under way to develop an environmental management system in accordance with ISO 14001.
Seven of the Group companies are certifi ed and one has been awarded an environmental diploma.
Environmental measures
Each company within the XANO Group is responsible
for and actively strives to reduce its environmental
impact. The companies are continually implementing
improvements through quality and environmental go-
als for scrapping and increased sorting of waste ac-
cording to source. At a general level, investments in
machinery have improved the effi ciency and reduced
the electricity consumption of many of the Group’s
companies. Improved processes within many produc-
tion units have also reduced the impact on the en-
vironment. Resinit has made an active environmental
choice as regards the purchase of electricity which
promotes the development of renewable energy sour-
ces. Bladhs has installed a heat recycling system which
reduces electricity and oil consumption.
ENVIRONMENT AND QUALITY 17
A good example of the work being carried out within XANO concerning quality can be found within Fredrik- sons. At Fredriksons’ production unit in Vadstena, daily production monitoring was introduced in early 2008. Under this scheme, quality, cost-effectiveness, delivery reliability, safety at work and human resources issues are assessed and reported in accordance with clear established goals. This monitoring represents an effective tool in Fredriksons’ efforts to continually im- prove. It reduces the company’s costs and makes for a more secure future.
More involvement
The tool that Fredriksons uses is called QCDSM (Qua- lity, Cost, Delivery, Safety, Management), which is a proven tool that is used within the automotive indu- stry and elsewhere. A very important aspect of the work is to regularly and visibly monitor key fi gures for each production team. Through QCDSM, Fredriksons can ensure that the company’s goals are being fulfi lled at all levels.
Each team leader analyses the results and reports them to the employees concerned, both verbally th- rough a daily morning meeting and visually on special boards which are put up around the production faci- lity. The system has led to greater commitment and responsibility amongst the employees.
”It is good for everyone to know that we are de- livering products, documentation and services of the right quality and on time”, says Tommy Johansson, Production Manager at Fredriksons. He believes that QCDSM has also improved the working environment in many ways.
Key indicators
The evaluation of quality includes an analysis of scrap costs among other things, where clear goals have been established for what is considered to be reasona- ble. Cost levels are for example assessed in effi ciency, reworking and stock levels. The results for delivery reliability can be infl uenced by factors such as pro- duction disruption and material shortages. To assess safety at work, occupational accidents and risks in the working environment are assessed. Human resources issues such as absence due to illness and any capacity problems are reviewed.
Comparing the results with established goals and key fi gures enables deviations to be identifi ed quickly.
Routines for investigating and rectifying these devia- tions are then followed.
”Our customers are very satisfi ed that we are using this particular tool. It benefi ts them in many ways and therefore represents an important compe- titive advantage,” says Tommy Johansson.
Fredriksons’ unit in China is currently just starting the process of implementing QCDSM.
Production follow-up
reduces costs and secures the future of Fredriksons
The introduction of a visual production quality system at Fredriksons has meant reduced scrap costs and absence due to illness.
18
ROTATIONAL MOULDING
Operations and markets
Cipax largely operates within four product segments - boats, marine products, industry and environment &
sanitation. Customers come from the marine, industry, automotive and infrastructure & engineering sectors.
Turnover is split equally between customer-specifi c production and in-house-developed products.
2008 in brief
During the fi rst half of 2008, Cipax carried out a re- structuring of the operation. Production has been redistributed between the units. Joint resources have
Rotational Moulding
also been allocated to strategic procurement and mar- keting issues. The restructuring resulted in an inferior result compared with 2007. The increased economies of scope between the production units and the ratio- nalised management of projects is expected to have more impact during the current year and thereby re- duce the effects of the anticipated lower demand.
Cipax has also worked to increase capacity in Es- tonia. The production facilities have been extended by 3,500 m
2since June. New machines have increased production capacity and the opportunity to produce more demanding details. At both Estonian facilities, production fl ows have been improved considerably during the year. The operations have been environ- mentally certifi ed since December. The Swedish and Norwegian companies were already certifi ed in this way.
During the summer, a sales company was esta- blished in Finland, which will serve the Finnish market with development and project management services.
As a result of the economic situation, the Group was hit by a reduction in incoming orders during the last two quarters of the year, particularly from the au- tomotive industry, whilst orders for products relating to the medical industry and food industry were largely unaffected. In order to adapt production to demand, Cipax has reduced its workforce within all production units.
Looking forward to 2009
Cipax experienced weaker demand during the start of
The business unit Rotational Moulding consists of Cipax with four production units which have their own development and sales or- ganisations at their disposal. A sales offi ce was also established in Finland during the summer of 2008.
Through its extensive experience and close cooperation with leading industry players, Cipax has built up a leading position with- in rotational moulding in the Nordic and Baltic region. Cipax has a major competitive advantage through its high level of technical ex- pertise and access to many production sites with different profi les.
The tarmac steamroller with two rotational- moulded water tanks. The tanks were developed
in partnership with the customer.
14 % 38 % 13 %
35 %
Sectors
Marine Other industry
Automotive Infrastructure and engineering
Photo: Dynapac
ROTATIONAL MOULDING 19
Cipax containers and tanks handle different fluids such as water, provisions and chemicals. Photo from Jönköping, Sweden, showing a container that is used in a district heating system.
Net sales Net salles
Share of Group
Operating profit
Net sales
(SEK m)
64.7 157.5 186.7
200
100
0
2006 2007 2008
Operating profi t
(SEK m)
13.3 11.5 7.8
20
10
0
2006 2007 2008
13 % 7 %
Pioner 17 Supersport. Cipax boat brand Pioner is celebrating 50 years on the market in 2009.
The manufacturing has developed from producing small rowing boats to high-speed sport and heavy-duty boats up to 17 feet long. The boats are moulded in one piece and are recyclable.
the year, as anticipated. The sales potential of the new company in Finland is considered to be high.
There are also good opportunities to expand within customer-specifi c production in the Norwegian market due to competitive production costs in the Es- tonian units.
Provided that the Swedish kronor does not wea-
ken markedly and material prices remain stable, the
restructuring process that has been implemented
within the business unit will provide a sound basis for
positive development during the year.
20
ROTATIONAL MOULDING
Most of the products in the industrial range are fitted with install connections to specific customer requirements.
Saue Taebla
Helsinki
Skebobruk Bjørkelangen
Average number of employees
59 130 158
200
150
100
50
0
2006 2007 2008
ROTATIONAL MOULDING 21
CIPAX
COMPANIES WITHIN THE ROTATIONAL MOULDING BUSINESS UNIT
Cipax designs, develops and manufactures plastic products through rotational moulding using environ- mentally friendly, recyclable materials. The primary product segments include boats, products for the au- tomotive industry, industrial containers and buoyancy devices. The manufacturing process is characteristi- cally cost-effi cient for small-scale production runs due to low tool costs and fl exible production. The fl exibi- lity of the product design process makes it possible to create complex items. Examples of customer-specifi c products include tanks, pipes and casings with spe- cifi c requirements such as heat- or cold-resistance and chemical resistance. In addition to customer- specifi c manufacture, which accounts for half of the company’s turnover, the company works on in-house- developed products within the boat, marine, industry and environment/sanitation segments.
Net sales SEK m 186.7
Growth % 18.5
Average number of employees 158
Cipax 2008
The Örnbuoy is part of the standard range.
The company also produces buoys for the fishing industry.
fi hi i d t
Photo from Hammarby Sjöstad, Sweden.
A fuel tank for a heavy- duty vehicle. Able to endure fluctuating temperatures, vibrations and knocks.
The material is recyclable.
22
PLASTIC COMPONENTS
Operations and markets
Ackurat has its own standard range of plastic compo- nents for industrial use. The company also offers the option of manufacturing fully customised products.
Bladhs operates exclusively with customer specifi c ma- nufacturing based around the injection-moulding of plastic. The company has at its disposal resources for advanced injection-moulding with equipment for two- and three-component production, welding and as- sembly. Inmedic’s operations cover injection-moulding and installation in classifi ed clean room environments.
Profi lspecialisten manufactures technically advanced plastic profi les through extrusion and also develops its own products. The principal markets for the busi-
Plastic Components
ness unit are the industry, automotive, infrastructure &
engineering and medical technology sectors.
2008 in brief
Ackurat reports a relatively good turnover and result for 2008. The infl ow of orders fell slightly during the last few months of the year. The development of new markets and segments continued with undiminished intensity. Ackurat’s participation at a major internatio- nal shop furnishings trade fair in Düsseldorf was a suc- cess. The product range is continually being develo- ped, both through the addition of items made by the company and through purchases of components from selected suppliers. During the year, investments were made in a new database system which will improve the management of product information.
Bladhs achieved a relatively good result during 2008. During the third quarter, customers were how- ever beginning to announce reduced volumes, and staff reductions were therefore implemented within all units. During the year, the company invested in a large injection-moulding machine, with a clamping force of up to a thousand tonnes, for the unit in Gisla- ved. This machine will enable the production of larger products in volume terms.
In terms of both turnover and result, Inmedic reports a marked improvement over 2007. The ope- ration in Estonia, Inmedic AS, which was established at the end of 2007, with a production area of approx- imately 500 m
2adjacent to Bladhs’ facility, has been developed very successfully and now accounts for almost half of the company’s turnover. This excellent development is the result of a couple of major custo-
Injection moulding of a welding helmet at Bladhs in Bredaryd.
Automated cutting and labelling is an integrated part in the production cell.
Plastic Components covers Ackurat, Bladhs, Inmedic and Profi lspecia- listen. These companies offer development and manufacturing ser- vices within injection-moulding and extrusion of plastic, in addition to production and installation in classifi ed clean room environments.
Deliverables cover both customer-specifi c components and systems, as well as in-house-developed products for a variety of applications.
Sectors
Other industry Infrastructure and engineering
22 %
36 % 19 %
23 %
Medical technology Automotive
Net sales
(SEK m)
356.9 358.4 363.0
Operating profi t
(SEK m)
31.3 32.3 31.1
500
400
300
200
100
0
2006 2007 2008
50
40
30
20
10
0 2006 2007 2008
PLASTIC COMPONENTS 23
mers deciding to place their production there. Sales, procurement and order management are handled from the Swedish company. During the year, Inmedic worked to identify and implement effi ciency gains in order to optimise the degree of utilisation within pro- duction.
Profi lspecialisten showed healthy sales with a sa- tisfactory profi t level during the fi rst three quarters of the year. The downturn within certain sectors was off- set by growth in other areas. However, during the last quarter a reduction in the infl ow of orders became apparent, particularly within the marine and construc- tion segments, whilst the company also concluded a couple of major projects. The company has worked
Inmedic works in classified clean room environment (class 7 and class 8 according to ISO 14644-1) with extreme quality demands.
Here a visual control of an ultra- sound-welded seam is performed.
Ackurat manufactures thousands of injection-moulded standard parts such as adjustable feet for the furniture industry.
Net sales Netsalles
Share of Group
Operating profit Bladhs in Bredaryd manufactures, assembles, labels and
packs injection-moulded shopping baskets in a variety of sizes and colours.
26% 28%
actively to win and develop new customers and to supplement and refi ne its own range of products in order to check the downturn. Profi lspecialisten has also carried out measures aimed at achieving effi - ciency gains within production. Staff reductions were carried out within the company at the end of 2008.
Looking forward to 2009
Ackurat holds a leading position within the Swedish
market and continues to work actively on marketing
initiatives. The company’s awareness of sector trends
in its development work has positioned Ackurat as a
proactive player. With 3,500 customers, the spread of
risk is considered to be good.
24
PLASTIC COMPONENTS
Bladhs is experiencing tough competition for as- signments and active price pressure from customers, and intensive work is therefore under way to improve effi ciency and resource utilisation. Despite this, the fi rst two quarters are expected to be relatively weak.
An important competitive advantage for Bladhs is that with several companies with different specialisations and access to inhouse low-price production in Estonia, the company can produce wherever it is most advan- tageous. As a result of the weak state of the economy, major structural changes may take place within the in- jection-moulding sector during the year, which could benefi t Bladhs.
So far there have been no indications of a slump from the medical technical industry, but preparations are also in place within Inmedic should such a slump materialise. The company expects its turnover to in- crease during 2009. A priority area for the year is to
Bladhs in Estonia are responsible for system deliveries of ear protectors to customers globally – from design, deve- lopment, procurement, injection-moulding and assembly to distribution.
Inmedic Tallinn Bladhs
Tallinn
Bladhs Bredaryd Gislaved
Inmedic Bredaryd Profi lspecialisten
Kållered
Ackurat Lammhult
Ackurat Gdansk
Ackurat Helsinki
Average number of employees
343 350 367
400 350 300 250 200 150 100 50 0
2006 2007 2008
further increase capacity utilisation within the Esto- nian unit. The Swedish unit is continuing to work on measures aimed at bringing about effi ciency gains within procurement and production. The competitive Swedish kronor could result in an increase in foreign assignments.
Profi lspecialisten’s products are primarily intended for outdoor use, and the fi rst quarter is therefore nor- mally weak in terms of sales. The start of the year has been tough and the company is preparing for further staff cutbacks. However, Profi lspecialisten has a major assignment which will commence during the second quarter. The company is also receiving new enquiries and has several orders for tools, which will hopefully lead to production ahead.
Profilspecialisten uses the extrusion process to manufacture plastic profiles. The company develops its own tools and production technology.
.
PLASTIC COMPONENTS 25
Bladhs specialises in injection-moulded plastic parts as components and systems. The company provides full- service solutions that include everything from design, manufacturing and assembly to packaging and distribu- tion. Bladhs’ Estonian organisation concentrates on sys- tem deliveries and partner production. Bladhs Bredaryd manufactures injection-moulded products in large volu- mes. Bladhs Gislaved is a fl exible facility oriented towards customers with lower volumes. The project-oriented and fl exible operations enable Bladhs to provide advanced
Inmedic supplies advanced development and manu- facturing services to the medical technology industry.
The company carries out development projects in col- laboration with external partners. Inmedic operates with long-term outsourcing, an approach which involves as- suming overall responsibility for project management, procurement, manufacturing, assembly, packaging and logistics. Production is carried out in Sweden and Estonia and takes place entirely in classifi ed clean room environments. Inmedic manufactures components for
BLADHS
services for highly differentiated market segments in col- laboration with external partners. The principal markets are Sweden and the Baltic region. The company’s custo- mers are primarily large Swedish
companies within the automotive and engineering industries.
surgical instruments, components for app- lications for institutional pharmaceuticals management and intensive care ventilators.
The company’s customers are medical tech- nology companies, primarily in the Nordic market.
Injection-moulded and partially assembled component for a roof railing.
Complex orthopaedic tool for the preparation of bone cement used for securing hip and knee joint implants.
INMEDIC
COMPANIES WITHIN THE PLASTIC COMPONENTS BUSINESS UNIT
Net sales SEK m 219.1
Growth % -2.1
Average number of employees 269
Net sales
N l
Share of business unit
Bladhs 2008
Employees
Net sales SEK m 40.8
Growth % 31.2
Average number of employees 38
Net sales
N l
Share of business unit
Inmedic 2008
Employees
Net sales SEK m 59.3
Growth % -1.5
Average number of employees 31
Net sales
N l
Share of business unit
Profi lspecialisten 2008
Employees Ackurat manufactures and sells standard injection-moul-
ded plastic details and stocks more than 6,500 items, including hand wheels, adjustable feet, levers, handles and pipe stoppers. In addition to purely plastic details, the company supplies products with metal screws and bushings. Ackurat also offers the option of manufactur- ing fully-customised products or customised standard products. Ackurat sells mainly to the Nordic and Baltic countries. The company has sales organisations in Fin- land and Poland, as well as retailers in Norway and Lat-
via. The company’s customers are primarily manufactu- rers of furniture, shop fi ttings and machinery, in addition to companies that supply equipment within the fi elds of health and leisure.
Knob from the standard range, used for furniture, wheelchairs, etc.
ACKURAT
Net sales SEK m 46.5
Growth % 1.4
Average number of employees 27
Net sales
Share of business unit
Ackurat 2008
Employees
16 % 9%
11 % 10%
13% 7%
60% 74%
Profi lspecialisten uses the extrusion process to manufac- ture technically advanced plastic profi les. The company’s modern facility houses 18 production lines. In a single operation, fi ve of these production lines can produce extrusions from two different types of plastic in order to bring out a number of functions and specifi c properties.
Through a high level of technology with resources for tool manufacture and design, the company can act as a competent collaboration partner from idea to logistics solution. Most of the operation concerns customer-spe-
cifi c manufacture, primarily for Scandinavian customers.
Sales of in-house-developed products account for a quar- ter of the company’s turnover and cover split pipes for cables, fender strips and transport protection.
PROFILSPECIALISTEN
Split pipes for cable protection.
it pipes tection.