Linking up Combining strengths

NEWS

Combining strengths

Fortum and Lukoil sign agreement on technology collaboration

Fortum and the Russian energy company Lukoil have signed a technology collaboration framework agreement. The agreement covers collaboration in the areas of operation, maintenance and capacity upgrades of power plants and heating networks, among others. The companies also agreed on research and development collaboration aiming to improve energy efficiency.

The agreement is based on Fortum’s long experience in providing operation and maintenance services to Russian energy companies. Fortum, for example, performs efficiency and productivity optimisation audits at Lukoil’s power plants.

“Collaboration with Lukoil provides us with even better opportunities to develop energy-efficient electricity and heat production in Russia,” says Fortum’s president and CEO Tapio Kuula. Visit: www.fortum.com

SSAB becomes full owner of Tibnor

SSAB is becoming the full owner of the steel and non-ferrous metals distributor Tibnor. This is taking place by SSAB, which currently owns an 85 per cent stake in the company, acquiring Outokumpu’s 15 per cent minority stake.

Tibnor is a leading steel and non-ferrous metals distributor in Sweden and the rest of the Nordic region, and also has a subsidiary in Latvia.

“Tibnor is an important channel for reaching our customers on our Nordic domestic market and we see that the company possesses good development potential,” says SSAB’s president and CEO Martin Lindqvist.

SSAB is paying €44 million in cash for Outokumpu’s 15 per cent stake. The sale is not expected to impact on customer relations between Outokumpu and Tibnor, which markets and sells products from many different suppliers. Visit: www.ssab.com

Vallourec strengthens its local presence in Saudi Arabia

Vallourec, world leader in premium tubular solutions, has reached an agreement to acquire Saudi Seamless Pipes Factory Company Limited ‘Zamil Pipes’, the first seamless OCTG processing company in Saudi Arabia.

Located in Dammam, Zamil Pipes is close to Vallourec’s new VAM threading plant which is currently under construction and due to be commissioned in H2 2011. In complement to this project, the acquisition of Zamil Pipes will provide Vallourec with ready-to-run heat treatment capacity and threading facilities of up to 100 kt of pipe per year. With these two operations, Vallourec will reinforce its local presence in the Kingdom, through additional finishing capacities and reduced lead-times, to serve the premium OCTG market in Saudi Arabia.

Philippe Crouzet, chairman of Vallourec’s management board, stated: “With local heat treatment and premium threading facilities, Vallourec and Zamil Pipes will enjoy an unmatched competitive position. The combination of Vallourec’s expertise in VAM premium OCTG technology and Zamil Pipes processing facilities will strengthen the local offer to serve Saudi Aramco and other customers in the Middle East.” Visit: www.vallourec.fr

Wärtsilä and Versa Power to jointly develop fuel cell technology

Wärtsilä, the leading provider of power solutions to both the marine and energy markets, and Versa Power Systems (VPS), a leading developer of environmentally friendly, high-power solid oxide fuel cells (SOFC), have announced a cooperative agreement to develop and integrate Versa Power’s SOFC technology into Wärtsilä products. A key target of the agreement is to develop commercial Wärtsilä fuel cell products that generate power and heat for various applications in the distributed energy and marine markets. The agreement allows Wärtsilä to integrate VPS fuel cell stack modules, especially for larger power range products. For VPS, the agreement provides a dedicated partner with the ability to commercialise fuel cell products in large markets around the globe. Offering customers environmentally sound and sustainable energy production technologies is an essential part of Wärtsilä’s strategy. Visit: www.wartsila.com

LINKINGUP

Bentley announces new partnership in Sweden with Autoropa

Bentley has opened a new door into the Scandinavian market. The British carmaker announced its partnership with the Swedish company Autoropa, which will be responsible for the market and will open a dealership and showroom in Malmö. Whilst sales commence immediately, a new Bentley sales and service facility including a workshop will open in September. Under the leadership of general manager Filip Larsson Bentley Motors looks forward to a successful foothold in the Swedish market.

Autoropa is a company with a long and rich history, specialising in representing and showcasing Europe’s premier automotive companies. In May this year, the company opened its stunning new headquarters in Malmö where the new Bentley showroom will be located.

Thomas Kiesele, operations director Europe for Bentley Motors, says Autoropa is ready to meet the challenge. “We have chosen this Swedish partner because of its luxury car expertise, professionalism, many years of experience in the Swedish market and its strong marketing.” Visit: www.bentleymedia.com

Hill & Smith acquire ATA of Sweden for SEK 100 million

The Board of Hill & Smith has announced that the group has completed the acquisition of ATA of Sweden for SEK 100 million in cash. Formed in 1967, ATA is a family-owned distributor of road safety barriers and manufacturer and distributor of road signage to the infrastructure market in Sweden. The business operates from four depot locations in Sweden and has headquarters in Stockholm. ATA’s product portfolio comprises permanent road safety barriers, a temporary road safety barrier rental fleet, crash cushions and road signs, including variable message signing. ATA’s temporary road safety barrier rental model is similar to that of Hill & Smith’s ‘Varioguard’ product in the UK. This acquisition allows the group to enter a strong infrastructure market with a leading distributor and supplier that has an established and complementary product portfolio. ATA also provides the group with potential for expansion in Sweden and into other parts of Scandinavia, consistent with its strategy for international market and earnings growth. Visit: www.hsholdings.co.uk

VTG purchases the Railcraft group of companies

VTG Aktiengesellschaft has taken over the Railcraft group of companies with offices in Espoo, Finland, Moscow, Russia and Tallinn, Estonia. Railcraft rents out its own and leased rail tank cars for mineral oil to customers in the CIS and the Baltic States, in particular in Russia and the Ukraine.

“For us, the Railcraft takeover opens up an operations gateway into the CIS and Baltic markets. This purchase enables us to continue expanding our broad gauge wagon hire business,” explains Dr Heiko Fischer, CEO of VTG Aktiengesellschaft.

As early as the late 90s, VTG had already developed rail tank cars capable of travelling on both the Russian and the western European railway network. The resulting know-how can be incorporated into the new business. In addition, Railcraft’s transport agreement with the Russian Railways will in future also enable VTG’s Rail Logistics Division to offer freight rates within the CIS and the Baltic without needing to resort to intermediaries. Railcraft’s own fleet comprises more than 560 wagons. Visit: www.vtg.com

STRABAG grows in Sweden through acquisition of NIMAB Group.

STRABAG SE, central and eastern Europe’s largest construction company, has announced the 100 per cent acquisition of five subsidiaries of Sweden’s NIMAB Group. These are NIMAB Entreprenad AB, NIMAB Support AB, NIMAB Anläggning AB, NIMAB Fastigheter AB and Linnetorp AB.

With the acquisition of the five companies, STRABAG bolsters its presence in southern Sweden. Currently STRABAG’s activities in Sweden are limited to large-scale infrastructure projects and real estate development. With the acquisition of the NIMAB Group, the company aims at acquiring smaller and medium-sized infrastructure projects as well as projects in the field of building construction.

Dr Hans Peter Haselsteiner, CEO of STRABAG SE, commented: “The market in Sweden is dominated by a few large construction companies and many small family businesses, most of which do not qualify for an acquisition. The sale of the NIMAB Group therefore represents a rare opportunity to drive forward our planned growth in Sweden.” Visit: www.strabag.com