PRESS RELEASE

The 13 June, the Swiss owner of the North Jutland company RAIS has acquired a 50% stake in Decoflame, located in Vestbjerg, north of Aalborg. Decoflame will remain unchanged organisationally, with co-owner Kjell Thomsen continuing as Managing Director.

Decoflame produces, designs, and markets both custom-made bioethanol fireplaces and decorative, water-based fireplaces that create the illusion of fire and flames. The factory in Vestbjerg employs around 30 employees and has an established retailer network in Denmark and several other countries.

RAIS is a significant player in the European market for the manufacture and sale of wood-burning stoves and gas fireplaces. The production, with approximately 115 employees, takes place in Vangen, north of Sæby, Denmark. Sales are conducted via an international network of independent shops, chains, and distributors.

”We have been looking for new strategic areas to expand into for some time. Fireplaces that burn bioethanol and decorative water-based fireplaces are something we believe in as part of the future of heating and creating a cosy atmosphere in homes worldwide. Decoflame has significant technological expertise and offers excellent products with further development potential. We are very much looking forward to this collaboration,” says Henrik Nørgaard, CEO of RAIS and future Chairman of the Board for the new entity.

Decoflame’s CEO, Kjell Thomsen, adds:

”With access to RAIS and Attika (RAIS’s sister company), Decoflame will gain a vast distribution network across Europe. We want to increase our exports, after having focused primarily on the

Danish market for many years. This agreement will accelerate this process significantly. Additionally, I have found that we share many of the same organisational values and focus on design and quality.”

For further information, please contact:

RAIS A/S, Henrik Nørgaard, + 45 98479033

Decoflame ApS, Kjell Thomsen + 45 96304800