Coor makes strategic acquisition in Finland

Coor Service Management is strengthening its position as the leading Nordic service management company by acquiring two companies in Kymmenedalen, Finland. The acquisitions enhance Coor's expertise in industrial production service.

The acquired service companies are Kymen Rakennuskonekorjaus Oy in Kotka and its subsidiary Kymen Teollisuushuolto Oy. The deal entails a 20% expansion of Coor's operations in Finland.

"We're very pleased with this deal. It strengthens our presence in Kymmenedalen, where we already have extensive operations. It also expands our portfolio to encompass production service for the food industry. The expertise in the acquired companies complements our current organisation well," says Martin Forss, President of Coor Service Management Finland.

Kymen Rakennuskonekorjaus was founded in 1980 and was previously owned by five private individuals (Heikki Sundberg, Raimo Skyttä, Anne Hagman, and Markku and Mauri Sundberg). The companies have long experience of manufacturing and installing machinery and systems, as well as servicing and repairs of various kinds. The companies' customers today are primarily found in the food industry.

"The operation needs to develop and grow, which we were unable to achieve on our own. Having Coor as the owner will improve our conditions for continuing to develop both the operation and our services. The deal is a good solution for all parties," says Heikki Sundberg, Managing Director of Kymen Rakennuskonekorjaus Oy and a former co-owner.

Following the acquisition, the companies' operations and 60 employees will be passing over to Coor Service Management.

For further information, please contact:

Mats Jönsson, President & Group CEO, Coor Service Management Group, phone: +46 (0)8-553 950 00

Martin Forss, President, Coor Service Management Oy, phone: +358 10 234 3412

Heikki Sundberg, Managing Director, Kymen Rakennuskonekorjaus, phone: +358 0400 655 981