Areco makes another major acquisition to extend its business
Today, Areco has acquired Ferrex Scandinavia AB and is further broadening its business by adding outstanding expertise and an extended range of steel and metal products.
Ferrex, a company based in Gothenburg, has been offering the market a broad, strong and competitive selection of steel and metal products for almost 40 years. The company is in possession of a great deal of expertise and provides Nordic industry with products directly from steelworks to client plants. With its robust background in the steel industry, the company brings with it net sales of around SEK 300 million and around 10 employees.
“The strategy behind the acquisition of Ferrex aims to extend Areco’s product expertise and interface with the mechanical and automotive industries. This acquisition will result in volumes for our latest initiative involving custom-made sheet metal produced at our new Steel Service Centre in Malmö. Synergies with Areco’s major steel purchases and production capacity will result in greater profitability for the newly acquired company,” says Peter Areskog, Group President of Areco.
The company will be integrated in the Areco Metals business division in Malmö, with Anders Lindell as its CEO.
For Ferrex customers, the acquisition means extended warehouse and distribution facilities, as well as additional business opportunities thanks to Areco's major purchasing volumes and its broad product portfolio, which includes the Steel Service Centre. This takeover will allow us to become a one-stop steel supplier," explains Ulf Zeidler, CEO of Ferrex Scandinavia.
The Areco Group is one of the biggest Nordic manufacturers of structural sheeting, with six plants in Sweden, Denmark, Finland and Poland, and it has acquired eight companies in Sweden, Denmark and Finland over the past two years. The Group’s net sales will exceed SEK 2 billion in 2018, and it currently employs 250 staff.
Peter Areskog, Group President of Areco
Tel.: +46 705 542 030
Ulf Zeidler, CEO of Ferrex Scandinavia AB
Tel.: +46 705 902 597
Anders Lindell, CEO of Areco Metals
Tel.: +46 709 421 222