Investor Group To Acquire Aalborg Industries

Friday, May 19, 2000
Headed by Axcel, an investor group has formalized an agreement with the Danish company J. Lauritzen Holding to attain Aalborg Industries.

Aalborg, which is one of Denmark's large industrial companies specializing in the field of boilers and other heat generating equipment, agreed to allow investors to set up a new holding company with shares to be distributed among the investor group.

The investor group also includes LD, FIH, and Aalborg president and CEO Freddy Frandsen, senior vice president and CFO Svend Ole Aagren, and group vice president Jorn Nielsen.

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