5/3/2006 11:00 AM Ahlsell acquires a leading player in the Tools & Machinery sector on the Finnish market
Ahlsell AB has concluded an agreement with privately owned company Kojaltek OY to acquire its operations. Kojaltek is a leading player on the Finnish market within the product sectors of tools and machinery together with other industrial equipment. The company has an annual turnover of about EURO 25 million and about 100 employees.
Kojaltek OY is a leading player within the product range of Tools & Machinery and other industrial equipment on the Finnish market whose main customer groups are within the sector of basic Finnish industry. The company, founded in 1970, is based in Uleåborg and has another ten establishments throughout Finland.
"This acquisition gives Ahlsell an entry onto the Finnish market for tools and machinery where we are establishing ourselves as a leading player. This move also strengthens our leading market position as a supplier of tools and machinery on the Nordic market. Apart from a strongly positioned and well-established company, we gain access to an interesting market where Ahlsell's wide product range can create new business opportunities", says Göran Näsholm, President and CEO of Ahlsell.
The company's current CEO and part owner, Reijo Viinonen, will continue to run the acquired operation under Ahlsell's head of Finnish operations, Mika Salokangas.
" With Ahlsell's resources we have good opportunities to strengthen our position on the Finnish market both geographically and locally", says Reijo Viinonen, CEO of Kojaltek.
This acquisition will make a positive contribution to the Group's operating result from 2006. The transaction is subject to approval by the Competition Authorities.
For further information, please contact Göran Näsholm, President and CEO, or Camilla Weiner, CIO, on 08-685 70 00.