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HANZA and Metalliset Join Forces
September 1, 2015 | Globe NewswireEstimated reading time: 1 minute
The merger between Swedish HANZA and Finnish Metalliset Group has been finalized. The new group will consist of approximately 1,500 people with a turnover exceeding 160 MEUR. The deal is done partly in shares; therefore the resulting company becomes a Finnish-Swedish owned company HANZA Holding AB (publ), listed on Nasdaq First North, is a Swedish, fast growing industrial business partner in manufacturing, with factories in mechanics, electronics, cable harnesses and assembly of complex products. HANZA also offers strategic advice on manufacturing operations, called MIG. HANZA employs about 1 000 people in Sweden, Finland, Central Europe, Estonia and China.
Metalliset Oy is one of Finland’s most successful industrial companies, offering high quality mechanical manufacturing. Metalliset has about 500 employees in Finland, Central Europe, Estonia and China. Its customers are large, well-known Nordic companies.
Today, the deal to merge the business, which was announced earlier this summer, was finalized. The result is one of the market leaders in Northern Europe in manufacturing.
The deal is valued at over 7 MEUR and consists of a cash part and share part, resulting in the previous owners of Metalliset becoming the largest owners of the new HANZA group.
"Metalliset is an extremely well-run business and this deal is an important step for our further development,” said Erik Stenfors, CEO of HANZA. "We see great synergies and the management in Metalliset adds market-leading expertise in mechanics”.
"HANZA's business model with complete manufacturing solutions creates new opportunities for our existing customers,” says Matti Hirvonen, CEO of Metalliset. "Thus we see that this deal provides a continued good future for Metalliset Group."
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