As of 1 April 2011, the B&B TOOLS Group will report under a new Group structure:
· TOOLS - consists of three national organisations for TOOLS (Sweden, Norway and Finland), and TOOLS Momentum, which are jointly responsible for end-user canvassing and sales.
· Business areas - four business areas with responsibility for developing the Group's combined offering of products and services in various product and application areas.
· Group-wide - consists of the Group's management, finance and other support functions, infrastructure operations and logistics properties.
The new Group structure entails that the former operating areas, Markets and Solutions, no longer exist as consolidating units in the Group's reporting.
The new organisation will be reflected in the Group's external reporting from the Interim Report for the period 1 April - 30 June 2011, which will be published on 18 August 2011. Comparative figures for the 2010/2011 fiscal year have been restated in accordance with the new Group structure as set out in the enclosed pro forma financial statements.
In addition to the Group's Parent Company, the Group's shared salary centre and the Group's properties in Alingsås and Ulricehamn, the "Group-wide" item in the new reporting includes Group-wide management and support functions and infrastructure operations (Supply Chain, IT and product information) that were previously reported in Markets and Solutions. When preparing the enclosed pro forma financial statements, certain intra-Group items within TOOLS were also reallocated over the year.
Stockholm, 11 August 2011
B&B TOOLS AB (publ)
For further information, please contact:
Mats Björkman, Executive Vice President and Chief Financial Officer, B&B TOOLS AB, tel: +46 8 660 10 30
Mats Karlqvist, Head of IR, B&B TOOLS AB, tel: +46 70 660 31 32
This information is disclosed in accordance with the Securities Market Act, the Financial Instruments Trading Act or demands made in the regulations for issuers.
UNITED FOR INDUSTRIAL EFFICIENCY
B&B TOOLS provides the industrial and construction sectors in northern Europe with industrial consumables, industrial components and related services. The Group has annual revenue of approximately SEK 7.9 billion and approximately 2,800 employees.
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Source: B&B TOOLS AB via Thomson Reuters ONE
