Normet acquires Finland-based boom systems manufacturer Rambooms and hydraulic attachments supplier Marakon
NORMET GROUP OY PRESS RELEASE 9 JANUARY 2023 AT 13:00 EET
Normet acquires Finland-based boom systems manufacturer Rambooms and hydraulic attachments supplier Marakon
Normet has agreed to acquire Rambooms Oy, a manufacturer and supplier of rock breaker boom systems, and Marakon Oy, a supplier of hydraulic hammers and excavator attachments for the construction, crusher and mining industries.
The Rambooms and Marakon businesses, with a manufacturing facility in Lahti, Finland, form the Marakon Group. The Group has a wide customer base, and its products are found in most mining and construction markets. Marakon Group has 35 employees and net sales of EUR 26 million in 2022.
“Rambooms and Marakon are known for their high performing quality products,” says Ed Santamaria, President and CEO at Normet. “With the acquisition Normet strengthens its position in scaling and breaking as well as supports advancing towards higher levels of automation and electrification for the mining and construction industries. We look forward to welcoming the Marakon Group employees to Normet and supporting them in their future growth and development.”
“Throughout the past 40 years Marakon and Rambooms have grown together with both our business partners and employees. We feel trustful in the fact that this acquisition will allow for these shared success stories to continue. As this milestone marks a step towards new opportunities to advance and succeed, we are excited to follow the future accomplishments of both companies,” comments Tomi Veijalainen, President, MRB-Holding Oy.
The acquisition is expected to be closed in the first quarter of 2023, subject to the fulfilment of customary closing conditions. The parties have agreed not to disclose any financial details related to the transaction.
For more information please contact:
Ed Santamaria, President and CEO, Normet Group Oy
Phone: +358 50 477 8102
Email: Ed.Santamaria@Normet.com
Normet is a fast growing and innovative technology company offering continuous improvement to underground construction and mining processes for increased safety, productivity and profitability. Our complete technical solutions create value through saving costs and shortening process cycle times and are developed based on the welfare of people and on the care of the environment. Normet has a broad offering for underground mining and tunnelling: equipment, construction chemicals, rock reinforcement products and services. Normet Group currently employs over 1,600 professionals, and the net sales in 2021 were EUR 359 million. Normet is a Finland-headquartered company operating globally in over 50 locations and 30 countries. For more information, visit: www.normet.com.