NOBEL'S BOFORS TO SELL ITS SINGAPORE HOLDING
Nobel Industries Sweden SA <NOBL.ST>
said its arms subsidiary, <AB Bofors>, plans to sell its 40 pct
stake in <Allied Ordnance Co of Singapore Ltd> because of its
part in weapons exports which contravene Swedish law.
    "The events we have uncovered are unacceptable and highly
regrettable incidents in our company's history," Nobel chairman
Lars-Erik Thunholm told a news conference.
    Nobel managing director Anders Carlberg said an internal
inquiry has revealed an extensive network of international arms
smuggling.
 Reuter
