Fortaco focuses its strategy on vehicle cabins and sells steel fabrication and assembly operations to HANZA.
We announced today that Fortaco focuses its strategy on vehicle cabin business and strengthens its position as the leading international cabin company.
As a result of this strategic decision, we are planning to sell our assembly operations in Kurikka (Kurikka3 factory) and Sastamala as well as steel fabrication business sites in Narva, Wroclaw, and Janow Lubelski, to a European contract manufacturer HANZA. Business Site Gliwice is not included in the transaction, it will continue as a standalone business site as a part of Fortaco Group, development of operations continue.
The selling of steel fabrication and assembly operations creates us the prerequisites to build a more focused international vehicle cabin company with attractive growth opportunities both in Europe and beyond. Growth can be achieved both organically and through selected M&A. Additionally, transaction strengthens our financial position and makes us an even more attractive partner providing premium vehicle cabin offerings to the off-highway OEMs worldwide. Cabin assembly remains to be part of Fortaco’s cabin operations.
With a strong focus on customers, Fortaco is the leading European strategic partner to off-highway equipment OEMs worldwide with innovative technology solutions, cabin design and manufacturing knowhow.
For Fortaco’s steel fabrication and assembly customers, the transaction will offer a broader product portfolio with HANZA’s additional offering, as well as new collaboration opportunities.
The companies, Fortaco & HANZA aim at building a strategic partnership for the future, leveraging the complementary strengths of both organizations and to create value for customers, accelerate innovations, and expand opportunities across existing and new markets.
“Today marks the beginning of a new, exciting chapter for Fortaco. This transaction creates the prerequisites to build a more focused international vehicle cabin company. The market is evolving rapidly, and we see attractive growth opportunities for strengthening our position as a premium cabin designer and manufacturer in Europe and beyond, both organically and through M&A”, says Markus Sjöholm, Chairman of Fortaco’s Supervisory Board.
HANZA is a European contract manufacturer founded in 2008, being based in Sweden and listed on Nasdaq Stockholm. HANZA delivers manufacturing services across six core technologies: electronics, sheet metal mechanics, heavy mechanics, wire harnesses, machining, and assembly services.
The strengths, cultures, and heritage of both companies will shape a shared future.
In the photo from the left: Larissa Shabunova, Andreas Nordin, Erik Stenfors, Markus Sjöholm, Lars Hellberg, Liivar Kongi
