register free | resend password

The agreement to create Fortaco from Komas' and Ruukki's units is finalised

ID: 1183346
recent pressrelease next pressrelease

(Thomson Reuters ONE) -

CapMan press release - 28 December 2012 at 9:00 am EET

The agreement to create Fortaco from Komas' and Ruukki's units is finalised

Funds managed by CapMan (CapMan) and Rautaruukki Corporation (Ruukki) agreed in
October to combine units of Komas and Ruukki's Engineering division to form a
new company called Fortaco. The agreement has now been finalised. Fortaco
becomes Europe's largest manufacturing partner for the engineering industry.

CapMan is Fortaco's largest owner with a 66.5% stake. Ruukki will hold 19.0% of
the company's equity. MSc (Industrial Engineering and Management) Mika Kari has
been appointed Fortaco's CEO. In addition, the management team comprises Esko
Harila (CFO), Erik Skogström, Ville Jaakkola, Jukka Mäkelä, Tomas Forsgård and
Juha Simola. The Board of Directors comprises representatives designated by
CapMan, Peter Augustsson (Chairman), Jan Mattlin and Lars Hellberg, members
designated by Ruukki, Mikko Hietanen and Marko Somerma and in addition Jukka-
Pekka Nikula.

The company is formed through the combination of compatible and complementary
units of Ruukki and Komas. Komas' units excluded from the arrangement will
continue to operate as an independent company, Komas Keski-Suomi, with Antti
Jokitalo as new CEO and under CapMan's and other present ownership.

Additional information:
Jan Mattlin, Partner, CapMan Buyout, tel.+358 40 508 64 06
Mika Kari, CEO, Fortaco, tel. +358 40 531 97 58

Fortaco is Europe's largest manufacturing partner for the engineering industry.
The company's main products are high performing welded and machined components,
ready-to-install operator cabins and fully-assembled machines and equipment for
the world's leading engineering OEMs. The company employs 2,600 persons at 11
sites in Finland, Poland, Estonia, Hungary and Slovakia. Expected pro forma net

sales for 2012 are EUR 270 million.

Ruukki provides its customers with energy-efficient steel solutions for better
living, working and moving. Ruukki operates in some 30 countries and employs
around 11,800 people. Net sales in 2011 totalled EUR 2.8 billion. The company's
share is quoted on NASDAQ OMX Helsinki (Rautaruukki Oyj: RTRKS).

CapMan is one of the leading private equity firms in the Nordic countries and
Russia, with assets under management of ?3.0 billion. CapMan has four key
investment partnerships - CapMan Buyout, CapMan Russia, CapMan Public Market,
and CapMan Real Estate - each of which has its own dedicated investment team and
funds. Altogether, CapMan employs approx. 110 people in Helsinki, Stockholm,
Oslo, Moscow and Luxembourg. CapMan was established in 1989 and has been listed
on the Helsinki Stock Exchange since 2001.

This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.

Source: CapMan Oyj via Thomson Reuters ONE

Keywords (optional):

Company information / Profile:

PressRelease by


PressContact / Agency:

published by: hugin
print pressrelease  send to a friend  

Date: 12/28/2012 - 08:03
Language: English
News-ID 1183346
Character count: 0
Firma: CapMan Oyj
Ansprechpartner: Feedback to about Pressrelease-id:
Stadt: Helsinki


Number of hits: 328


Direct Link to this PressRelease:

We would appreciate a link in your News-, Press- or Partner-Site.

Comments on this PressRelease

All members: 9 432
Register today: 0
Register yesterday: 0
Members online: 0
Guests online: 126

Don't have an account yet? You can create one. As registered user you have some advantages like theme manager, comments configuration and post comments with your name.