Scandinavian Astor Group merges subsidiary

Scandinavian Astor Group AB (publ) (“Astor Group” or the "Company") together with its wholly owned subsidiaries Marstrom Composite AB (“Marstrom”) and JPC Composite AB (“JPC”) have decided implement a merger, whereby JPC will be absorbed into Marstrom. A merger plan has been adopted and the merger will take effect after customary registration with the Swedish Companies Registration Office. JPC will then cease to be an independent company. Upon completion of the merger, JPC will become part of Marstrom and cease to be an independent company.

”We are building Marstrom into the Nordic region's leading total supplier of advanced composites. With a joint structure, we will become stronger, faster, and more coordinated—ready to meet demand from both the defense industry and high-growth civilian segments”, says Fredrik Lindblom, CEO of Marstrom Composite.

The merger has no impact on the daily operations but is part of the work to reduce administration and further streamline the group's structure. Marstrom Composite currently owns the wholly owned subsidiaries JPC Composite AB and Carbonia Composites AB. After the merger, Marstrom Composite AB will own one wholly owned subsidiary — Carbonia Composites AB — and at the same time be in charge for the other operations, brands, and production sites within Marstrom, JPC, ID Modeller, and Composite Design Sweden.

Scandinavian Astor Group – Strength and security in all elements

For further information, please contact:
Scandinavian Astor Group's CEO Mattias Hjorth
E-mail: [email protected]

Please note that this is an English translation of a press release written in Swedish by Scandinavian Astor Group AB (publ), in the event of any inaccuracies, the Swedish version applies.

About Scandinavian Astor Group AB (publ)
Scandinavian Astor Group is a Swedish defense group shaping the future of security and protection. Through its three business areas - Astor Tech, Astor Industry and Astor Protect - the Group delivers advanced technology, high-quality components and critical security solutions to primarily the defense, industry and public safety sectors. Astor Group is listed on NGM Nordic SME (ticker: ASTOR) and Boerse Stuttgart. The Company is headquartered in Stockholm, Sweden. For more information about Astor Group's business, visit: www.astorgroup.se