|Service Corporation International Announces Expansion into Scandinavia|
HOUSTON, April 16 /PRNewswire/ -- Service Corporation International (NYSE: SRV) (SCI), the world's largest funeral and cemetery company, announced today that one of its subsidiaries has acquired Odd B. Jolstad, As in Oslo, Norway. This represents SCI's initial entry into the Scandinavian funeral market.
Until the sale to SCI, Odd B. Jolstad, As was one of Europe's largest privately owned funeral companies. The business consists of 12 funeral locations in Oslo and its surrounding areas, and currently provides over 4,600 funeral services producing approximately $9,000,000 in revenues on an annualized basis. R. L. Waltrip, SCI's Chairman and Chief Executive Officer reported, "We are extremely pleased to announce our initial entry into Scandinavia. Odd B. Jolstad, As is the largest private provider in Scandinavia and has provided quality funeral service to the Oslo Community for over 40 years."
As of December 31, 1997, SCI affiliates operated 3,127 funeral service locations, 392 cemeteries and 166 crematoria. SCI provides funeral and cemetery services in 18 countries on five continents. SCI's stock is traded on the New York Stock Exchange. The company's ticker symbol is SRV.
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