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Contex's CEO resigns

Contex logo

Svenn Poulsen, President and CEO of the Contex Group A/S, has resigned. Poulsen's resignation follows mutual agreement between him and Ratos, the Swedish private equity firm which acquired the Danish developer and manufacturer of digital imaging solutions.

Arne Frank, Contex Group A/S Chairman of the Board, takes on the role of Executive Chairman while Kenneth Aaby Sachse has been appointed Acting CEO. Sachse has been working within Contex since 2008. Ratos acquired the Danish Contex Group in 2007.

Contex flags flying
Contex flags flying high

A world-leading developer and manufacturer of 2D and 3D digital imaging solutions, the Contex Group A/S has three operating areas:

  • Contex A/S - the world's largest manufacturer of wide format scanners,

  • Z Corporation - a leading manufacturer and innovator in 3D printers,

  • Vidar Systems Corporation - a manufactureor of medical imaging products.

The Contex Group A/S' products are sold throughout the world. When understanding Ratos's published financial reports for the Contex Group A/S, it is important to understand that all three of the above companies contribute to the Bottom Line. Success or failure cannot be attrbuted to one company only.

Sales in 2008 amounted to SEK 818m (Swedish kroner), about USD $117m or GBP£74m with an operating profit (EBITA) of SEK 92m, about USD $13.1m or GBP£8.3m. Financial figures for 2009 show the Contex Group A/S neither sinking nor swimming in the current economic circumstances but doing just enough to keep its head above water.

The Contex Group A/S has approximately 350 employees. Ratos's holding in Contex amounts to 98%.

Ratos is a listed private equity company. Ratos's equity is approximately SEK 16 billion and has a market capitalisation of approximately SEK 26 billion. Ratos Lists the following among its holdings: AH Industries, Anticimex, Arcus Gruppen, Bisnode, Camfil, Contex, DIAB, EuroMaint, GS-Hydro, Hafa Bathroom Group, Haglöfs, HL Display, Inwido, Jøtul, Lindab, MCC, Medisize, Scandinavian Business Seating, Superfos and Other holdings.

For more information on Contex and its products, see:
www.contex.com