Investigation of Trelleborg AB's auditors' report completed
At the Trelleborg AB Annual General Meeting on April 13, 2000, it was
decided that the Board, in consultation with the company's main
shareholders and the Swedish Association of Share Investors, should
commission an authorized accountant to investigate whether the Auditors'
Report from 1999 regarding the company's former president, Kjell Nilsson,
had been handled in a correct manner.
At the Board Meeting on June 9, 2000, the decision was made to commission-
authorized accountant Gunnar Widhagen, Ernst & Young, to make such an
investigation. The findings of Mr. Widhagen's investigation have now been
submitted to the Trelleborg AB Board of Directors.
His concluding comments are as follows:
"In my investigation, nothing has come to my attention that, in my
opinion, if it had been known at the time of the 1999 Annual General
Meeting, could have affected the decision to discharge the Board members
and/or the company president, Kjell Nilsson, from liability for that
financial year, or influenced the content of the agreement reached with
Kjell Nilsson on March 8, 1999."
Gunnar Widhagen reports on his assignment and the way in which it was
implemented in a six-page document. This document is presented (only
available in Swedish) in its entirety on the Trelleborg Group website.
For further information, please contact Rune Andersson, Chairman of the
Board of Trelleborg AB, telephone: +46 40 98 77 01, or Senior Vice
President Corporate Communications at Trelleborg AB, Mikael Byström,
telephone. +46 410 670 37, or
Trelleborg is a global industrial group undergoing a major process of
change. Operations are based on spearhead competence within polymer
materials and a high level of industrial know-how, with functional
solutions and systems designed to meet the needs of our customers. The
Group has annual sales of SEK 13.5 billion, with slightly more than 12,500
employees in 37 countries. Trelleborg consists of four business areas:
Trelleborg Automotive, Trelleborg Wheel Systems, Trelleborg Engineered
Systems and Trelleborg Building Systems. The Trelleborg share has been
quoted on the A list of the OM Stockholm Exchange since 1964.
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