View Full Version : Poseidon's DP Scandinavia Receives large infusion of Cash

The Publisher
01-22-2009, 09:02 PM
In connection with DP Scandinavia’s acquisition of Poseidon, Industrifonden’s management decided to provide it with additional financial resources in the form of SEK 9 million for major development projects.

Industrifonden is an independent foundation founded by the Swedish state in 1979. It operates on a commercial basis without outside capital. Revenues are returned to the business for new investments. Industrifonden's board of directors, which is appointed by the government, is responsible for the fund's operations.

With its financial muscle and experience in technology projects, Industrifonden was considered an attractive partner.

“Thanks to the stock offering, Poseidon now has the resources to fully fund its marketing and product development,” said Poseidon’s CEO, Kurt Sjöblom, in connection with the share issue in 2007.