Ferronordic Machines to become distributor of Rottne Industri AB
Press Release
Stockholm, 20 September 2016
Ferronordic Machines has entered into an agreement with Rottne Industri AB under which the company will become the official distributor for Rottne forestry equipment in all of Russia.
Rottne was founded in 1955 and is one of the pioneers in the mechanization of the modern forest industry. The product range includes a complete program of both forwarders and harvesters. As part of the cooperation with Ferronordic Machines, Rottne will develop a new series of forwarders and harvesters for the Russian market. All machines will be equipped with engines from Volvo Penta. By the end of the year, the forwarder F15 8WD, with a 15 ton load capacity, will be launched. Thereafter, during 2017, both 6- and 8-wheeled H11 harvester will be introduced.
Lars Corneliusson, CEO of Ferronordic Machines, comments on the agreement: “We are very pleased to be able to add yet another strong brand to our product offering. The addition of Rottne machines will make us well equipped to capture the potential of the increasingly important Russian forestry equipment market. The Rottne machines are highly complementary to our Volvo CE offering, and the fact that the machines will have Volvo engines only make the synergies even greater”.
Rolf Andersson, CEO of Rottne, comments: “We are very excited about this new cooperation. Ferronordic Machines is a strong and highly qualified service and sales company on the Russian market. We strongly believe in the long-term potential of the Russian forestry equipment market and are convinced that Ferronordic Machine is the right partner for us to capture this opportunity.”
The appointment becomes effective in December upon the termination of Ferronordic Machines’ current distribution agreement with Logset Oy. Ferronordic Machines expects the sales of Rottne products to commence during the first quarter of 2017. The appointment will not affect the results of this year.
About Ferronordic Machines
Ferronordic Machines is the authorized dealer of Volvo Construction Equipment and Terex Trucks in Russia. It is also the official distributor of Dressta in Russia. The company began its operations in 2010 and has expanded rapidly across Russia. The company is well established in all federal districts with almost 70 outlets and approximately 750 employees. In addition to distributing and servicing construction machines, Ferronordic Machines has also been appointed aftermarket dealer for Volvo and Renault Trucks as well as dealer for Volvo Penta in certain parts of Russia. The vision of Ferronordic Machines is to be regarded as the leading service- and sales company in the CIS markets. The preference shares of Ferronordic Machines are listed on NASDAQ OMX First North Premier. The company has appointed Avanza Bank AB as its Certified Advisor.
For more information, please contact:
Anders Blomqvist, CFO and Head of IR, Tel: +46 8 5090 7280 or pr@ferronordic.ru
Ferronordic Machines discloses the information herein pursuant to the Securities Markets Act and/or the Financial Instruments Act. The information was submitted for publication on 20 September 2016, 07:45 CET.
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