ITAB - ITAB signs agreement with Prisma in the Baltic area

ITAB signs agreement with Prisma in the Baltic area

4/28/2010 3:34:00 PM

The shop chain Prisma acting on the Baltic market and owned by the largest retail group SOK in Finland have decided to sign an agreement with ITAB. ITAB will be the complete supplier of Prisma stores.  

ITAB Shop Concept AB, traded on the market place Nasdaq OMX Mid Cap, has been chosen as the supplier of the total concept to all Prismas stores in the Baltic area. These shops, which will be totally refurbished and with two new openings, will be the starting point of strengthening the Prisma chain network in the Baltic area.

ITAB, which includes several of the ITAB companies will produce, supply and service the shop concept to all Prismas stores. The agreement will include ITABs shelving systems, customized interior systems, checkouts and entrance & gate systems to all Prismas stores in 2010. The agreement also includes project management, installation, logistic and service assignments. This agreement is highly valued by ITAB when the cooperation with SOK will, after step one in Estonia under the agreement, expand to Latvia and Lithuania. The agreement also includes an option of two new Prisma stores in the Baltic area.

Although the difficult economically situation, ITAB has managed to maintain a good profitability in the Baltic region and strengthens further its position through this agreement as market leader in the Baltic region. The business value of agreement is confidential at the request by Prisma.

ITAB supplies complete shop interiors for general and trade retailers. The company’s operations comprise project management, design, development, manufacture and sales. Besides shop fittings, predominantly in wood and metal, the range of concepts on offer also includes shop equipment (cash desks, entry systems, etc.) and in-house developed products. ITAB Shop Concept had a turnover during 2009 of SEK 2,8 billion and at the turn of the year ca. 1.500 employees.

ITAB Shop Concepts certified advisor is Remium AB.

For further information, please contact:

ITAB Shop Concept AB  
CEO  Ulf Rostedt  
Phone:  +46 36 31 73 00

d. CEO    Mikael Gustavsson  
Phone:  +46 36 31 73 00