Johnson Pump Group publishes Year-End Report 2002
Turnover for pump activities during the year SEK 648 (657) million; Operating profit for pump activities during the year SEK 12 (20) million; Depreciation of goodwill and non-recurring items of SEK 189 million; The Board proposes an unchanged dividend of SEK 1.50 per share
The year in brief
At the beginning of the year, Johnson Pump AB (formerly TMT One) acquired Johnson Pump International (formerly Johnson Pump AB). Operations in the former TMT One were discontinued through the distribution of its holdings to the shareholders.
During the year, the company continued with the implementation of the new supply chain solution and the uniform sales process in Europe, which are
important elements in the ongoing restructuring of the company. At the end of the year a private label agreement for hygienic centrifugal pumps was signed to enable the company to be in a better position to offer total solutions within the hygienic segment. The new pumps will be launched in the first quarter of 2003.
The E-commerce project has been completed and the portal is now available for the company’s marine distributors. Other distributors and suppliers will gain access to the portal in gradual stages.
In October, the Swedish operations of Johnson Pump Marine and Johnson Pump Svenska were certified in accordance with ISO 14001, which means that they have an environmental management system that has been revised and approved by DNV Certification AB.
In the second half of the year, the company carried out a new share issued totalling SEK 69 million. The issue was fully subscribed and was completed in October.
Source: SPX Flow Europe Ltd