Nordstjernan divests all shares in Exel Composites
On June 9 Nordstjernan sold its remaining stake of 14 percent in Exel Composites (“Exel”). Nordstjernan has been the largest shareholder in Exel since year 2000. Exel designs, manufactures and markets composite profiles and tubes for industrial applications. The company is listed on the OMX Helsinki stock exchange. In 2013 Exel’s turnover was 69 MEUR.
Over the years with Nordstjernan as the largest shareholder, the company has been successfully transformed from a broad focus including sports and leisure equipment to a more narrow focus on industrial applications.
“Exel accounts for less than 1 percent of our assets, i.e. it is a too small investment. With a strong balance sheet and a new, dynamic CEO in Riku Kytömäki, we think Exel has a strong future with great opportunities ahead to grow and to develop.” says Tomas Billing, CEO of Nordstjernan.
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Nordstjernan is a family-controlled investment company that creates growth in value through long-term and active ownership of Nordic companies. Investments are to be long-term. More information on Nordstjernan is available at www.nordstjernan.se