Gunnebo Industrier AB divests its wire drawing business in Finland

Gunnebo Industrier’s Finnish subsidiary OFA Oy AB divests its business for wire drawing in Jokioinen, Finland, to Kaarinan Terästyö Oy.

The divested business has 18 employees, and last year had sales of some MEUR 2,7, primarily to external customers on the Finnish market. OFA is the market-leading manufacturer of nails and non-skid products in Finland and the divested wire drawing business was an integral part in the acquisition of OFA at the end of the 1990s. The divestment will have a marginal effect on the consolidated result. ”The divestment is part of the work to strengthen and concentrate the Finnish business, whilst we believe that the buyer has a greater opportunity to develop the business in the long term,” says Mr. Christer Lenner, President and CEO of Gunnebo Industrier. Kaarinan Terästyö Oy is a machine engineering company that has its operations in southern Finland. Kaarinan Terästyö Oy wishes to expand its business into a new business area through the acquisition. “The company has every chance of succeeding with the acquisition through investment and development,” says Tomi Taipale, President of Kaarinan Terästyö Oy.