NEWS
Combining strengths
Axel Johnson International acquires Polish sealing specialist Electrolux partners with
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xel Johnson International’s Industrial Solutions business group has acquired Passerotti sp. z.o.o., a Polish niche distributor of technical seals, from the industrial service provider ERIKS. With eight locations in Poland, Passerotti is a significant player in the Polish market with about 11,000 customers present in both MRO and OEM segments. By acquiring Passerotti, Industrial Solutions strengthens its position in Poland. “The acquisition expands our geographical reach in mechanical power transmissions, which is part of our growth agenda,” says Ola Sjölin, managing director, Industrial Solutions. “With excellent capacity for providing tailored sealing solutions, Passerotti is recognised as a value-added distributor of technical seals in the Polish market.” Headquartered in Bielsko-Biala, Passerotti has an annual turnover of approximately €6.6 million and 85 employees. Its offering is primarily
focused on sealing technology, providing a wide range of seals for various technical applications in combination with complementary mechanical power transmission products. The company is an authorised distributor for a number of world leading brands, with a wide and diversified supplier base enabling its competitive offering. Visit: www.axinter.com
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breeding programmes in more than 15 crops.The addition of the vegetable seeds business enhances BASF’s global offer to farmers. It strengthens BASF’s seed platform and complements the recently expanded Agricultural Solutions portfolio, which includes seeds and traits, chemical and biological crop protection, soil management, plant health, pest control and digital farming. This closing completes BASF’s acquisition of a significant range of businesses and assets with combined 2017 sales of €2.2 billion, which Bayer offered to divest in the context of its takeover of Monsanto. The all-cash purchase price amounts to a total of €7.6 billion, subject to certain adjustments at closing. Visit: www.basf.com
lectrolux is investing in Sweden-based Karma, a start-up that helps restaurants and supermarkets reduce food waste by selling unsold food to consumers. The investment is part of a wider USD 12 million round with other investors. Electrolux and Karma are also initiating a strategic partnership to explore common solutions in reducing food waste. The new partnership with Karma will explore new innovative solutions within the future of food and help to scale up the fight against food waste. The partnership will combine Electrolux’s expertise within appliances and food preservation with Karma’s digital platform and expertise within sharing economy. “We are committed to drive a positive change and we know that the best way to do this is by working together with others who share our ambition. Electrolux is continuously exploring solutions that drives a better and more sustainable living and we’re excited to support Karma,” said Jonas Samuelson, President and CEO of Electrolux. Reducing food waste is an important target in Electrolux’s sustainability framework with the goal to inspire better food consumption among consumers and professionals. Visit: www.electroluxgroup.com
of sales and logistics will take place on 1 November 2018 and the transfer of production is planned to take place in early 2019. Kiilto’s parquet business covers Finland, Sweden, Latvia, Lithuania, Estonia, Poland, Russia, Belarus and Ukraine with an extensive network of customers. Its products are available through distribution networks or direct sales.
“Kiilto lacquers and fillers will complement Teknos’ product assortment for the flooring industry. We have a firm position in the markets, so we can smoothly continue to serve new customers through our local sales offices and to provide them with an even wider assortment of other products,” says Arto Mannonen, managing director, Teknos Oy. Visit: www.teknos.com
BASF completes acquisition of Bayer’s vegetable seeds business
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ASF has completed the acquisition of Bayer’s global vegetable seeds business, mainly operating under the brand Nunhems. The transaction adds a well-recognised brand with a very successful business track record to BASF’s portfolio. The acquired vegetable seeds business comprises 24 crops and about 2600 varieties. It also includes well-established, strong R&D and breeding systems with over 100 unique
Teknos to acquire parquet product business from Kiilto
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eknos has acquired a parquet product business from Kiilto. The product assortment consists of primer lacquers, 1-component and 2-component lacquers and parquet fillers. Through the acquisition, Teknos gains ownership of the recipes, trade names, customer contacts and know-how. The transfer
20 Industry Europe
food waste start-up Karma
