Press release
2002-07-01


Viking Sewing Machines changes its name to VSM Group – and prepares for a flotation

Viking Sewing Machines, the leading manufacturer of domestic sewing machines and software and accessories for sewing and embroidery, is changing its name to the VSM Group.

– There are several reasons for the change, of which the most important is that it means we will have a neutral company name that does not favour either of our two strong brands – Husqvarna Viking and Pfaff, said Svante Runnquist, MD of the VSM Group that has 1 750 employees worldwide, including 500 in Sweden.

At the same time, the new VSM Group name will be complemented by the tag line “Changing World of Sewing” that indicates which areas the company is actively involved in.

– It also sends out a signal that we intend to continue to play a leading role in the ongoing restructuring of the sewing sector, Svante Runnquist added.

As before, the VSM Group’s marketing resources will be concentrated on the company’s two brands – Husqvarna Viking and Pfaff, not on the new company name.

In parallel with the change of name, preparatory work ahead of seeking a stock exchange listing has been initiated.

– The uncertainty surrounding stock markets around the world makes it difficult to predict a suitable time, but after the successes we have achieved in recent years, we feel that a listing would aid the company’s continued growth, said Svante Runnquist.


VSM Group AB
561 84 Huskvarna, Sweden
Tel: +46 36-14 60 00 (vx)

PRESS SERVICE
Svante Runnquist, MD
Tel: +46 36-14 66 82