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HANZA Merges Operations in Estonia
February 5, 2016 | HANZA Holding ABEstimated reading time: Less than a minute
Last year, HANZA Holding AB acquired mechanics manufacturer Metalliset, through which a production unit in Aruküla, Estonia, was obtained. HANZA has now decided to transfer and merge this unit with its other operations in Tartu, Estonia, whereby the Group creates a major manufacturing cluster with approximately 450 employees. Through this, HANZA can undertake even larger and more complex projects, while continuing to guarantee top class quality and delivery accuracy.
"The global economy with fluctuating volumes lead to high demands on the manufacturing sector," says Erik Stenfors, CEO of HANZA. "By developing our industrial park in Tartu, we strengthen HANZA's competitive position. Our clusters create significant customer value, and thus contribute to a continued profitable growth of HANZA."
The decision affects 80 employees in Aruküla and is expected to result in limited one-time costs, which essentially will be charged during the first half of 2016. The merger is expected to have a positive effect on the HANZA Group's earnings as of the third quarter of 2016.
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