To our collaborators

 

Odense, 3rd July 2008

 

With reference to the information sent out by Floravision A/S, the company has for some time looked for cooperation with new investors in order to carry the company through a difficult liquidity time and to strengthen the basis for the future development.

 

Unfortunately the owners did not succeed in this and therefore had to go insolvent. Wednesday the 2nd July 2008 it was clear that this was the only solution.

Despite the advanced time we started up to secure the continuation of the largest possible part of the activities with the majority shareholders and external advisers.

 

Floravision A/S and the company employees have since the foundation in 2003 been a professional, innovative and decisive sales company focused on efficient sales concepts and good customer relations. However, it has also turned out that the expenses of the supporting functions such as administration, logistics and IT have been too high.

 

The visions, ideas and energy of the organisation and the capability of selling plants from the Danish plant nurseries should therefore be carried on in the best possible way.

 

Bøg Madsen has entered into an agreement with the bankruptcy estate to take over the employees, the customers and the company name in Denmark as well as in Holland.  The aim of this acquisition is to secure that the sales channel is sustained to the benefit of the Danish plant export. By integration in Bøg Madsen we also expect to achieve adequate synergies resulting in a positive operating income.

 

Above mentioned means that all the employees started in the new established business unit Floravision in Bøg Madsen a/s on 3rd July. The name Floravision will be used as an alias, and all the future juridical and financial obligations will be discharged by Bøg Madsen a/s.

 

All the employees moved to Hvidkærvej 17, DK 5250 Odense SV on 3rd July, telephone numbers, email addresses, homepage etc are unchanged. The business unit will also in the future be managed by Jesper Nielsen and Søren V. Kristensen.

 

Orders will be placed via Danpot from Bøg Madsen and new customer numbers for the Floravision customers have been created. Deliveries shall also be carried out to Hvidkærvej 17, DK 5250 Odense SV.  This is valid from 3rd of July 2008. As the transfer is made without a preplanning, situations will of course arise during the first period that we have to consider and we ask for your sympathy.

 

I am confident that the employees at Bøg Madsen and Floravision joint will develop and strengthen the sale of Danish plants at a time where the trade has the need.

 

We are of course aware that the previous activities will inflict a financial loss on producers and other suppliers, but we believe that this is the best solution for the trade to carry on the innovative and energetic efforts of the employees and the customers.

 

We therefore hope that also in the future our collaborators will give their backing to Floravision’s customers and employees. A future with a sound financial basis and an efficient organisation. Hereby we have succeeded in creating a basis for a further market orientated focus on Floravision’s activities.

 

For further information please contact the undersigned mobile phone +45 20 11 08 65

 

 

Yours faithfully

Bøg Madsen a/s

 

 

Hans Schultz

CEO

 

www.bogmadsen.com

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