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Scana Industrier asa: Scana Industrier ASA, dispose of Scana Machining AB

Scana Industrier ASA has Sunday evening 8thof February entered into a "Share
Purchase Agreement" with Motala Verkstad Group AB (MVG) regarding a dispose
of Scana Energy ABs 100% equity share interest in Scana Machining AB.

Closing of the transaction will take place Tuesday 1stof March. New owner will
take responsibility for the companys obligations and the new owner will
immediately take full responsibility for daily operation of the company
together with the existing organization. MVG will establish a larger
machinery center in Scana Machining's premises by moving its own equipment.
Scana Energy will enter into cooperational agreement with MVG.

Scana Machining AB was acquired by Scana Industrier in 2011 and is located at
Kristinehamn, Sweden. Machining had in 2014 a turnover of NOK 64 million and
a loss before tax of NOK 35 million.

The sale will result in an accounting loss of approximately NOK 15 million for

Scana Machining has over the last years inflicted significant losses to the
Group and the transaction decreases Scanas liquidity- and operational risks
together with reduced bank guarantee exposure.

For further information please contact:

Mr. Bjørn Torkildsen, CEO Scana industrier ASA, Mobile +47 91 91 97 42
Mr. Kjetil Flesjå, CFO Scana Industrier ASA, Mobile: +47 90 04 12 13
Mr. Leif A Rosèn, Investment Director, Scana Energy AB, Mobile: +46 70 3304

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Scana Industrier asa via Globenewswire


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