Brief: Arendals Fossekompani Acquires 100 Percent Of IPT Technology

Arendals Fossekompani ASA

19/05/2022 19:39

May 19 (Reuters) - Arendals Fossekompani ASA  AFK.OL :
    * ARENDALS FOSSEKOMPANI ACQUIRES GERMAN TECHNOLOGY COMPANY
FOR
WIRELESS
    * ACQUIRES 100 PERCENT OF IPT TECHNOLOGY, A GERMAN COMPANY
DEVELOPING WIRELESS POWER TRANSFER TECHNOLOGY
    * ARENDALS FOSSEKOMPANI ACQUIRES GERMAN TECHNOLOGY COMPANY
FOR
WIRELESS CHARGING AND ESTABLISHES EVOLGY GROUP
    * ARENDALS FOSSEKOMPANI- AFK IS ESTABLISHING A NEW GROUP,
EVOLGY,
WHICH WILL OWN BOTH IPT TECHNOLOGY & NORWEGIAN INDUCTION HEATING
COMPANY EFD INDUCTION
    * CEO OF EFD INDUCTION, BJØRN ELDAR PETERSEN, WILL BECOME
CEO OF
EVOLGY, WHILE ØRJAN SVANEVIK WILL BE CHAIRMAN OF BOARD
    * EFD INDUCTION AND IPT TECHNOLOGY WILL CONTINUE AS BEFORE
WITH
ALL KEY EMPLOYEES IN THEIR CURRENT POSITIONS
    * A STOCK EXCHANGE LISTING MAY HAPPEN WHEN MARKET REOPENS

Source text for Eikon:  ID:nObiKkrc8a 
Further company coverage:  AFK.OL 

 ((Reuters.Briefs@thomsonreuters.com;;))