Ovako signs agreement with SSAB to acquire Tibnor Oy
Ovako has signed an agreement with SSAB to acquire steel and metals distributor Tibnor Oy in Finland. The deal has been approved by the European Commission and will now be examined by competition authorities in Finland and Estonia for final approval. The acquisition is expected to have a slightly positive impact on Ovako's operating profit and a slightly negative impact on cash flows for 2015."Tibnor Oy is a successful company with extensive experience as a distributor for companies including Ovako in the Finnish market. The acquisition of Tibnor Oy means that Ovako can broaden our customer