Celsius Board in Australia: Important Signal Prior to Bid for ADI
;The Board of Directors and Group Management of Celsius Corp. recently made a highly appreciated visit to Australia. This gave an important signal to one of the Group's three home markets, and enabled the visitors to acquire an impression of operations at first hand, and to find out more about them. It also clearly emphasized Celsius' interest in further investment in Australia. Bidding to acquire ADI (Australian Defence Industry), which is scheduled for privatization, is to start in June, and Celsius is determined to participate. ;Celsius has formed a consortium with National Australia Bank and Visy Industries, to bid for ADI. The consortium has been named System Engineering Consortium of Australia (SECA). National Australia Bank is one of the country's leading financial institutions, and Visy Industries is one of Australia's keynote industries in the engineering sector. ;Celsius is already active in the defence industry in Australia, where it has noted considerable success. The Australian Submarine Corporation, in which Celsius has a 49-percent holding, is the large shipyard that is currently building six Collins-class ocean-going submarines for Australia. CelsiusTech Australia, which is wholly-owned, has also been highly successful with its command-and-control systems for the Australian-built ANZAC frigates. ;Celsius' Board held its most recent meeting in Canberra. The Board presented the year-end report for 1998, which showed a strong balance sheet. Sales rose by 23 percent to SEK 14,293 M. Profit before tax rose to SEK 595 M. ;"I am satisfied with the result," said CEO Lars G. Josefsson, in a comment to the press. He also said: "Our position here in Australia is important to us. We have been established here for many years and, with the forthcoming privatization of ADI, we naturally see an excellent opportunity to further consolidate our position."
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Celsius Board in Australia: Important Signal Prior to Bid for ADI
