Cresswell to Invest in a Custom-built Factory for Peikko’s DELTABEAM® in Montreal, Canada

Cresswell Industries, a Peikko Group Corporation manufacturing partner, has decided to invest in a large-scale DELTABEAM® slim floor structure facility in Montreal, Canada. Cresswell, a subsidiary of Nova Steel, has been working with Peikko for more than seven years to support its manufacturing needs. Investing in the custom-built factory unit is a logical next step for Peikko and Cresswell’s partnership. As a result, Peikko's products will not only be more accessible to customers, but they will also be delivered more quickly to the market.

The new factory will be in Montreal, Canada with new and completely updated cutting-edge steel processing equipment installed and DELTABEAM® manufacturing is expected to start early 2024. The location of the new factory provides easy access to the entire North American market. The investment for building improvements and equipment will exceed 20 million Canadian dollars (14 million euros) and initially cover roughly 85,000 square feet (8000 square meters). The new factory is expected to produce between 150 and 200 DELTABEAM®s each week.

The majority of Peikko's products are manufactured and sold in its own factories in the regions where it operates except in North America, where it has a partnership agreement with Cresswell Industries. The benefit of this long-term commitment extends well beyond manufacturing collaboration, as Cresswell’s parent company Nova is a major steel processor in North America with significant sourcing power.  

“Peikko has been operating in North America since 2007, focusing primarily on the DELTABEAM® composite beam system. It has been used in the construction of over 250 buildings over the years, and it has received a wide range of approvals including UL and ULC ratings,” says Dominic Lemieux, Vice President of North America at Peikko. “The company's sales team and engineering team in Quebec City will grow significantly from their current size (28 people) in the near future.”

“We are pleased to have a partner like Cresswell Industries committing to such a significant investment. Our goal in North America is to triple sales within five to seven years, and availability is the key to achieving this. DELTABEAM® is already an established product within the market, and now we need to scale up the business,” says Topi Paananen, CEO of Peikko Group Corporation.

“Our relationship with Peikko has been very positive, and we look forward to expanding our collaboration even further. By implementing this move, we will be capable of tripling our DELTABEAM® manufacturing capacity. This outcome would not have been possible without the support of the Quebec Government, for which we are very thankful” says Pierre Jauvin, President of Cresswell Industries.

The realization of the project is supported by a financial support of 5,4 million Canadian dollars (3.6 million euros) from the Government of Quebec, through its representative Investissement Québec. Cresswell Industries has also benefited from the continuous support of the Government in the elaboration of this unique partnership and of Investissement Québec – CRIQ in the selection of the latest technology that will be used in the new facility.

More information:
Topi Paananen, CEO, Peikko Group Corporation
Mobile +358 50 384 3001, email topi.paananen@peikko.com

Dominic Lemieux, Vice President, North America, Peikko Group Corporation
Mobile: +1 418 808 8007, email: dominic.lemieux@peikko.com

Pierre Jauvin, President – Cresswell Industries
Mobile: +1 514 975 5111, email: pierre.jauvin@novasteel.ca

Peikko Group in brief

Peikko Group Corporation is a leading global supplier of slim floor structures, wind energy applications, and connection technology for precast and cast-in-situ construction. Peikko’s innovative solutions offer a faster, safer, and more sustainable way to design and build. Peikko has sales offices in over 30 countries, including Asia-Pacific, Europe, Africa, the Middle East, and North America, with manufacturing operations in 12 countries. Peikko generated a turnover of EUR 314 million in 2022. Peikko is a family-owned and managed company that employs over 2,000 professionals. Peikko was founded in 1965 and is headquartered in Lahti, Finland. https://www.peikko.com/ 

Cresswell Industries / Nova Steel in brief

Cresswell Industries has a mission to manufacture product according to the exact specifications and expectations of its customers and to build long-term partnerships that keep Cresswell financially sound and competitive in all its business sectors. Cresswell is a fully owned unit of Nova Steel.

https://www.cresswellindustries.com/en/

Nova Steel is a family-owned company and an industry leader operating in several sectors of the North American steel industry. With a wide range of products and services, the company has acquired more than 40 years of expertise in steel processing, manufacturing, and distribution. Nova Steel also offers value-added steel products processed for the end-user. With 19 locations in North America and several new construction projects underway in the United States, Mexico, and Canada, the company takes pride in being easy to work with and make it its goal to adapt itself continuously in the ever-evolving business world. https://novasteel.ca/