“The engineering industry subcontractors are expected to have more cost competitiveness in component deliveries and specialized expertise. The new combined entity has powerful component manufacturing units located close to customer markets. For Ruukki, the success of the new company is very important, both due to the development of steel volumes and the expected return on capital employed,” says Rautaruukki Oyj’s Managing Director Sakari Tamminen.
”When we originally invested in Komas, we envisaged building a leading contract manufacturing company in the mechanical engineering industry with the aptitude to grow and develop together with its customers. The transaction enables us to form a highly competitive company with state-of-the-art manufacturing operations in Finland, Poland, Estonia, Hungary and Slovakia. As a consequence, we are able to offer flexible and high-quality services to customers both in the Nordic countries and in Continental Europe”, says Jan Mattlin, Partner at CapMan Buyout.
“We are very satisfied with this agreed transaction. The arrangement strengthens the know-how of the new company and provides it with comprehensive production capacity in Eastern Europe in addition to Finland. Fortaco will become the largest manufacturing partner for the engineering industry in Europe, which allows us to better service our international customer base”, says Mika Kari, CEO of Komas.
Komas is a system supplier for the engineering industry. Its operations cover machining, assembly, hydraulics, and logistic services. The company has facilities in six Finnish municipalities and factories in Poland and Estonia. The Komas Group employs approximately 1 500 people and its turnover in 2011 was MEUR 124.
Ruukki provides its customers with energy-efficient steel solutions for better living, working and moving. Ruukki operates in some 30 countries and employs around 11 800 people. Net sales 2011 totalled 2.8 billion. The company’s share is quoted on NASDAQ OMX Helsinki.Back to transactions