Algol improves focusing and specialization

Algol is preparing to regroup its entire operation in order to focus more
strongly on the main branches of the company. The current five sales divisions
will be formed into three specialized units on the basis of the three mainstays
that Algol´s activities have traditionally rested on: raw materials and
semi-finished products; machinery, equipment and special products, and
healthcare products. The new units Algol Chemicals, Algol Technics and Algol
Pharma will continue operating within the Algol Group.

Managing Director Magnus Bargum says that the wide and diversified range of
Algol products, together with the knowledge and expertise of the whole
organization, creates a solid framework for the reform. The new entity with
three strong focuses and precisely targeted resources will function even more
effectively, and meet even more flexibly the requirements of Algol´s customers
and principals.

The year 2003 will be a transition period, when Algol will still be operating
in line with the existing organizational model. The new organization will take
effect at the beginning of the year 2004.

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