Beijer Alma subsidiary acquires KTT Tekniikka in Finland.
NORDIC BUSINESS REPORT-June 6, 2019-Beijer Alma subsidiary acquires KTT Tekniikka in Finland
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Industrial company Beijer Alma AB (STO:BEIAB) announced on Wednesday that its subsidiary Beijer Tech, through its Finnish subsidiary Beijer Oy, has acquired KTT Tekniikka Oy.
Financial details of this acquisition were not available.
KTT Tekniikka offers a broad range of mechanical power transmission products and services for the Finnish market. It reported revenues of EUR7.5m for 2018 with favourable profitability and has numerous customers in various industries, including pulp and paper, engineering and processing.
According to Beijer Tech, this acquisition of KTT Tekniikka will strengthen its market position in Finland and enable it to establish a presence in the area of mechanical power transmission, a new segment in its Industrial Products business area.
Also, the acquired company is a good complement to Beijer Tech's operations and will contribute to Beijer Alma's continued international expansion.
Beijer Alma develops, manufactures and markets industrial components It includes Lesjofors, a large spring manufacturer in Europe; Habia Cable, a large manufacturer of custom-designed cables in Europe; and Beijer Tech, with strong positions in industrial supplies in the Nordic region.
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|Publication:||Nordic Business Report|
|Date:||Jun 6, 2019|
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