Gabriel 150 years - Flipbook - Page 46
ent company and Kjærs Mølle the subsidiary.
Additional capital was invested in Gabriel Boligtekstiler, bringing the total amount of the
share capital to DKK ±∞.≥ million, and the take
over of Kjærs Mølle could then be carried out
with an exchange of shares.
Poul H. Lauritsen has been chairman of
the board of the Gabriel group, now Gabriel
Holding A/S, since ±∫π≥ and has ensured continuity in periods when many shares changed
hands.
It soon became apparent that genuine synergy
had resulted from cooperation between the
factory and the wholesaler. Due to a large
order for the export of upholstery fabric from
King Saud University in Saudi Arabia, the annual reports for ±∫π≤-π≥ and for ±∫π≥-πµ show-
Chairman of the Board Poul H. Lauritsen (on the
ed handsome profits. Gabriel’s American im-
right) and then Managing Director Søren Gabriel
porter was instrumental in securing this order
following the initial issue of shares in ±∫πµ.
that was valued at over DKK ±≤ million over a
two-year period.
for operations. The company itself controlled
fabric design and all the manufacturing processes, including treatment of the raw wool,
Gabriel goes public
spinning, weaving, wet processing, dyeing and
In the winter of ±∫π≥-πµ, in order to continue
the finishing of the upholstery fabric. In Den-
expansion, the board decided to list Gabriel
mark, Gabriel was known as a supplier of up-
Boligtekstiler A/S on the Copenhagen Stock
holstery fabric of high quality and outstand-
Exchange, where a section for small and medi-
ing design with a strong reputation among
um-sized enterprises, called “Børs III”, had
leading furniture makers. These included
been established. The first issue was made in
names like Kevi and Labofa in the contract
April ±∫πµ, and new shares in the amount of
furniture sector, Erik Jørgensen and Fritz Han-
DKK ≥.∏ million were offered and purchased
sen in the domestic sector as well as SAS and
at three times the original offering price. All
the Danish State Railways in the transport
the company’s shares were now in the same
sector.
class and were valued at DKK ±µ million. This
issue of new shares gave Gabriel fresh capital
The addition of fresh capital from the issu-
in the amount of approx. DKK ±∞.∂ million,
ing of shares was necessary in order to carry
and the net equity capital now totalled DKK
out a much-needed modernisation of the
≤π million, or approx. ∂∞% of the company’s
equipment in Aalborg and, not least, an ex-
total assets.
pansion of export activities. The latter was a
logical consequence of the niche market
The stock exchange listing was based on Ga-
strategy – the Danish market was simply too
briel’s “new” capabilities and sustainable basis
small.
1977-1985
47
