NEWS
Combining strengths
Eltel buys signalling company in Norway
SCA to acquire Wausau Paper
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ltel has agreed to acquire VETE Signaltjenester AS in Norway. VETE is a recognised player in the Norwegian railway market with an important market position providing railwaysignalling services. Eltel entered the Norwegian Rail market in 2012. Since then Eltel has successfully been able to capitalise on the growing market. To meet the growing customer demand Eltel has decided to increase its competences and resources in the signalling and safety segment. The acquisition of VETE complements Eltel’s current offering in Norway and provides clear synergies with the existing Rail business of Eltel. VETE is leading in its segment in Norway with a turnover of approximately NOK 60 million in 2014. The company has 37 employees with specialised signalling and safety competences. Its product offering includes new installations, corrective and preventive maintenance, project
management, engineering and advisory services within the railway signalling segment. Fredrik Häggström, president of Eltel Rail & Road comments: “The acquisition of VETE is a good step for Eltel and aligned with our strategic plan in the Norwegian market. With VETE we can scale up our Norwegian business and further develop cross border co-operation between our Eltel entities.” Visit: www.eltelnetworks.com
Drylock invests in Italian company
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rylock Technologies, a producer of revolutionary baby and inco products in Europe and Russia, is proud to announce the acquisition of 100% of the shares in CIP Assorbenti near Milano. By integrating this fully dedicated femcare plant, Drylock enlarges its product portfolio and significantly increases its capacity of femcare
Ginolis to acquire business of Wegera Oy
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inolis, the manufacturing solutions provider for diagnostic disposables, and Wegera, an Oulu-based machine and assembly service provider, have announced an agreement under which Ginolis Ltd’s subsidiary, Ginolis Tools, will acquire the business of Wegera Oy.
16 Industry Europe
production in the Russian Federation. Through the transaction, Drylock acquires a state-of-the-art facility, with lines producing up to 2400 pcs/min, and also gains a presence in South Europe with a solid customer portfolio in place. CIP Assorbenti is located close to Milan, Italy and has been owned by the Family Lenzo for the past 38 years. Bart Van Malderen (CEO), previous owner of Ontex, comments that the employees of CIP Assorbenti will be integrated in the Drylock group structure, ensuring continuity of the existing femcare business. Drylock is convinced that this strategic acquisition will contribute further to its increasing internal growth and welcomes the customers, workforce and knowledge within CIP Assorbenti. Visit: www.drylock.eu “We have worked together with Wegera for a number of years and are very excited about this acquisition,” states Ginolis CEO, Teijo Fabritius. “Going forward, Ginolis Tools will continue to maintain and further develop the customer relationships established by Wegera.” Following completion of the transaction, Wegera’s managing director Veikko Pitkälä
CA, a leading global hygiene and forest products company, and Wausau Paper Corp., a North American Away-from-Home tissue company, have announced that SCA will acquire Wausau Paper. Wausau Paper is one of the largest Awayfrom-Home tissue companies in North America. With approximately 900 employees, the company manufactures and markets Away-from-Home towel and tissue products along with soap and dispensing systems through its Artisan™, DublNature®, DublSoft® and EcoSoft® brands. Wausau Paper’s advanced tissue technology with manufacturing flexibility enables it to produce its towels and tissue entirely from recycled paper, which will further contribute to SCA’s efforts to create environmentally-friendly products and extend its sustainability commitment. “The Wausau Paper product portfolio complements SCA’s offerings in North America and gives us access to premium tissue in that region. We expect the acquisition to generate benefits for SCA and our customers,” says Magnus Groth, president and CEO, SCA. The acquisition is expected to generate annual synergies amounting to approximately USD 40 million with full effect three years after closing. Synergies are expected in sourcing, production, logistics, reduced imports, increased volumes of premium products and reduced SG&A costs. Visit: www.sca.com
will be retiring, and Pekka Raudaskoski will serve as the new managing director. Pekka has a vast work experience within the manufacturing industry. Most recently, Pekka served as JOT Automation’s quality manager in Finland. Going forward the company will continue normal operations and adopt the name Ginolis Tools Oy. Visit: www.ginolis.com
