Fortaco Oy has signed an agreement to divest two dedicated machining sites to Komas Oy. The sites, located in Härmä and Sastamala, Finland, provide precision shaft and prismatic part machining services and serial production primarily for the energy and industrial machinery industries. Around 110 employees including key resources from Fortaco Group sales and sourcing will transfer to Komas upon closing of the transaction, which is scheduled to take place during Q3/16. As a result of the transaction, Fortaco will become a minority shareholder in Komas. Financial details of the transaction are not disclosed.
“Our strategy is based on our mission to create value add for our customers by reshaping the way things are produced. We want to be the desired partner for our customers, mainly within the heavy equipment industry” says Lars Hellberg, Fortaco President & CEO. “The divestment of Business Unit Machining is based on sound industrial logic and is in line with Fortaco’s sharpened strategic focus, and will benefit the customers of both companies. Härmä and Sastamala production and people capabilities will complement the Komas portfolio, and together will broaden the range of machining services available to customers. Fortaco’s core offering comprises high quality processed steel fabrications, design and manufacturing of mobile equipment operator cabins as well as assembly services, whereas stand-alone machining services in Finland will be offered by our investee company Komas. This transaction strengthens our excellence going forward” Hellberg continues.
For further information, please contact:
CFO & Deputy CEO
Fortaco Group Oy
Tel. +358 50 453 1949
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