Sapa Closes Painting Plant in Kungalv

    STOCKHOLM, Sweden--Nov. 28, 2001--Sapa AB is forced to close its painting operations in Kungalv, Sweden. 47 employees are affected by this closedown. The plant paints large plastic components for trucks and other heavy vehicles. The closure of the operations is a consequence of the dominating customers gradually moving their painting work to other suppliers abroad.
    The personnel have been informed and negotiations with union representatives will commence immediately.
    Large efforts have been made in order to make use of the plant as a local service company, but presently there does not seem to be a need for a plant like this in Sweden.
    "The Kungalv plant is the only certified plant of its kind in Sweden, in close connection to the customer's plants, and we find it most disappointing that we have to close it down, not the least with the employees in mind. They have been very committed to find a possible future for the company," says Staffan Bohman CEO and President of Sapa.
    Sapa is an international industrial group focused on high value-added products based on the lightweight material aluminium. The products include profiles and heat-transfer strip in aluminium. Sapa has a turnover of approximately 15 billion SEK with 7,000 employees all over Europe and in USA and China. Sapa is one of Europe's leading companies within its field and the customers are found in the transport-, building- , engineering- and telecom industries. Sapa is registered on the A-list of the OM Stockholm Exchange.

    Further information about Sapa can be found on our web site; www.sapagroup.com