With the planned acquisition, Noremech will expand its customer base and its range of services, as well as gaining important expertise in the field of mechanical processing.
“This deal is fully in line with our plan of acquiring and developing businesses in the fields of mechanical processing and surface treatment. With this acquisition, we will be strengthening our local presence in Skövde, gaining access to skilled personnel and moving closer to an important customer base. In my opinion, this acquisition provides us with considerable opportunities to further develop our range of services and to strengthen the competitiveness of our corporate group. We are becoming one of the major players in this sector on the Nordic market,” says Inge Karlsson, Chairman of the Board of Noremech AB.
The order volume for EuroMaint Industry’s mechanical processing operation in Skövde has long been inadequate, and 20 of the 36 employees were recently served with redundancy notices.
“EuroMaint Industry’s component service activities are focused on critical high-cost components. We therefore have neither the strategic ambition nor the resources required to develop the operation over time. By selling the business, there is a possibility of retaining and developing the breadth and leading-edge expertise that exists within mechanical processing here in Skövde. A company that specialises in mechanical processing represents a better owner for the operation, and selling at this stage can ensure that the jobs are safeguarded,” says Nicklas Falk, CEO of EuroMaint Industry.
Ongoing negotiations regarding the recently served redundancy notices at EuroMaint Industry are being put on hold while the possibility of selling the operation is being investigated. If the takeover goes through, Noremech intends to continue operating the workshop in Skövde and to offer continued employment to all the affected personnel. It is anticipated that any transfer of the operation would take place in the middle of March.
For more information, contact:
Inge Karlsson, Chairman of the Board of Noremech AB, Tel: +46 (0)70-33 99 160
Nicklas Falk, CEO of EuroMaint Industry, Tel: +46 (0)70-762 50 34
Noremech is a specialist in the field of mechanical processing. The company, which is based in Undenäs near Karlsborg, has around 35 employees and a turnover of SEK 35 million. The company is owned by Norekon Invest AB, which also owns Lidköpings Mekaniska Verkstads AB, with around 30 employees and a turnover of SEK 40 million. LMV specialises in grinding, lathing and milling with small tolerances. www.noremech.se. and www.lmv.se