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  • Ferronordic AB
    Nybrogatan 6 114 34 Stockholm
    +46 8 50907280
    http://ferronordic.com
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    Ferronordic signs final agreements to become dealer for Volvo and Renault Trucks in Germany

    Ferronordic and Volvo Group Trucks Germany have entered into agreements to appoint Ferronordic dealer for Volvo and Renault Trucks in an area representing approx. 20% of the German market for heavy trucks. In connection herewith, Ferronordic has also completed the acquisition of eleven sites in Germany. Ferronordic will start operations in Germany in January 2020. The establishment in Germany is financed with loans from Nordea Bank.Lars Corneliusson, Ferronordic’s CEO, comments: “The expansion to Germany is moving ahead as planned. Preparations are almost ready and we look forward to

    Changes in Ferronordic’s management

    Ferronordic has appointed Dan Eliasson as General Counsel and member of the executive management as of 15 January 2020.Dan Eliasson has master degrees in law and business administration from Stockholm University. He has broad legal and commercial experience from both law firm and various businesses. Lately, Dan has worked at Nordea Bank in Moscow as client executive with responsibility for Nordic customers. Dan will be based in Moscow and Stockholm. Ferronordic’s current General Counsel, Henrik Carlborg, also Business Development Director, will be focusing on business development. As

    Invitation to Ferronordic’s investor presentation 15 August 2019

    Ferronordic’s report for Q2 2019 is published on 15 August 2019 at 07:30 CET. A presentation of the report will be held the same day at 10:00 CET.Ferronordic invites investors, analysts and the media to a presentation where Lars Corneliusson, CEO, and Erik Danemar, CFO, comments on the report. The presentation will be held on 15 August 2019 at 10:00 CET and can be followed via telephone conference or audiocast. The report is published on 15 August 2019 at 07.30 CET and will be accessible at www.ferronordic.com. The presentation will be held in English and will be followed by a questions

    Ferronordic Machines AB (publ) Interim report for the first quarter 2019

    Positive development continuesFIRST QUARTER 2019 · Revenue increased by 18% (21% in local currency) to SEK 723m (SEK 614m) · Operating profit improved by 36% to SEK 56m (SEK 41m) · Operating margin was 7.7% · The result for the period increased to SEK 58m (SEK 39m) · Earnings per ordinary share amounted to SEK 3.19 (SEK 1.93) SEK M  Q1 2019 Q1 2018    %Revenue                                         723 614 18%Operating profit   56 41 36%Result of the period

    Ferronordic to invest in component remanufacturing center

    Ferronordic will invest SEK 35m in a center for remanufacturing of engines and gearboxes in Ekaterinburg. The center is expected to open by end of Q1 2020.The investment relates to purchases of machinery, tools and equipment needed for the center. In addition, new engines and gearboxes will be purchased that will be sold to customers through trade-in deals to build an initial inventory of used components. The center will be used for components both from Volvo CE machines and trucks from Volvo and Renault Trucks. The investment is expected to have some negative impact on profitability and

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