Fortaco completes the sale of its heavy project business in Hungary

Fortaco Group Holdco Plc  |  PRESS RELEASE  |  28 June 2024 at 2.00 pm EEST

On 10 May 2024, Fortaco announced that it had signed an agreement to sell its heavy project business (Fortaco Zrt.) in Jászberény, Hungary to Cyclus GmbH (50%) and Ask US Management s.r.o. (50%). The transaction is part of the strategic evaluation of Fortaco’s marine, energy, and heavy project businesses announced on 28 February 2024.

The transaction was subject to the approval of Fortaco’s bondholders and some customary closing conditions. As Fortaco’s bondholders have now approved the transaction and the other customary closing conditions have been met, the transaction has been successfully completed on 28 June 2024. Fortaco’s former heavy project business will continue its operations under the new owner under the name Steel Construction Partners Zrt.

Fortaco will specify the impact of this transaction to its financials in its Half-year report 2024 that will be published on 26 August 2024.

Further Information
Lars Hellberg, President & CEO
+358 40 572 9488 
lars.hellberg@fortacogroup.com

Fortaco Group
Fortaco is the leading strategic partner in Europe to the heavy off-highway equipment and marine industries, providing premium offerings, like technology & zero emission solutions, vehicle cabins, steel fabrications, and assemblies. Fortaco Group has operations in multiple European and Asian business sites and technology hubs, which support our global customers. www.fortacogroup.com.