Lifco sells the Estonian company Hekotek
Lifco has signed an agreement to sell all the shares in the Estonian company Hekotek. The company develops and delivers sawmill equipment mainly to the Russian market. Hekotek has 130 employees and reported net sales of MEUR 40 in 2021. The company is based in Tallin, Estonia and has been consolidated in Business Area Systems Solutions, division Forest. The buyers are management of the company, who owned 17.5% of the shares before the transaction. The divestment is expected to be completed in May, 2022. The divestment will not have any significant effect on Lifco’s