Sweden“s Kanthal AB announced in January 1996 that it plans to buy the overseas activities of US firm, Harrison Driver-Harris (HDH).
Kantahl said the part of HDH it intends to buy has annual turnove…
Sweden“s Kanthal AB announced in January 1996 that it plans to buy the overseas activities of US firm, Harrison Driver-Harris (HDH). Kantahl said the part of HDH it intends to buy has annual turnover of US$ 250 million and has operations in Italy, France, Spain, Britain and Australia. Kanthal said the resistance wire business in which HDH specialises is suffering from overcapacity and the purchase would permit a restructuring of the sector. S-E-Banken Fonder, the fund management arm of Sweden“s S-E-Banken, has acquired a further 200,000 B-shares in Kanthal on behalf of its small companies fund (Smabolagsfond). The fund now holds 600,000 Kanthal B-shares. S-E-Banken“s Swedish funds now own shares representing 5.4% of the capital and 3.8% of the voting rights in Kanthal. Trustor, also of Sweden, has acquired 517,500 A-shares and 450,000 B-shares in Kanthal to lift its shareholding in the company to 28.8% from 24.8% and its voting stake to 49.8% from 47%.