Normet Group is to acquire Essverk Berg of Sweden in a deal scheduled to complete next week (September 1).
The Finnish tunnel services and equipment manufacturer will acquire Esswerk's entire equipment and service business for mining and tunneling, including relevant assets and employees. Essverk Berg employs 25 people in Ludvika Sweden.
"The acquisition of Essverk gives Normet a physical presence in Sweden and allows us to better serve our customers in Sweden and Norway," said Aaro Cantell, Chairman of Normet Group. He added: "Essverk will be the base for our operations in Sweden and Norway and we will develop and grow the combined business under the new name of Normet Scandinavia AB."
Tom Melbye, President of Normet Group, said, "From a technology point of view Essverk is completing very well the Normet product range with its expertise in truck-based and lifting equipment, and it also provides extra manufacturing capacity. He added: "The company will also be the development and competence centre for truck-based equipment including concrete spraying and new developments."
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