Fortaco has further developed Beowulf vehicle for BAE Systems Hägglund

BAE Systems Hägglund and Fortaco have further developed the BEOWULF vehicle. The dual use of Beowulf was introduced at the Eurosatory show in Paris on 13-17 June – this time the vehicle was introduced both in the military colors and with the rescue approach, blue lights on the roof. Fortaco has further designed the Beowulf cabins. With the dual use the flexibility of this vehicle can be visualized, and how the interior of the rear car fits for the different purposes.

Fortaco sharpens its strategic focus by divesting Business Unit Machining to Komas

Fortaco Oy has signed an agreement to divest two dedicated machining sites to Komas Oy. The sites, located in Härmä and Sastamala, Finland, provide precision shaft and prismatic part machining services and serial production primarily for the energy and industrial machinery industries. Around 110 employees including key resources from Fortaco Group sales and sourcing will transfer to Komas upon closing of the transaction, which is scheduled to take place during Q3/16. As a result of the transaction, Fortaco will become a minority shareholder in Komas. Financial details of the transaction are not disclosed.

“Our strategy is based on our mission to create value add for our customers by reshaping the way things are produced. We want to be the desired partner for our customers, mainly within the heavy equipment industry” says Lars Hellberg, Fortaco President & CEO. “The divestment of Business Unit Machining is based on sound industrial logic and is in line with Fortaco’s sharpened strategic focus, and will benefit the customers of both companies. Härmä and Sastamala production and people capabilities will complement the Komas portfolio, and together will broaden the range of machining services available to customers.

Fortaco’s core offering comprises high quality processed steel fabrications, design and manufacturing of mobile equipment operator cabins as well as assembly services, whereas stand-alone machining services in Finland will be offered by our investee company Komas. This transaction strengthens our excellence going forward” Hellberg continues.

For further information, please contact:

Matts Rosenberg
CFO & Deputy CEO
Fortaco Group Oy
Tel. +358 50 453 1949

Summer Greetings

Dear Fortaco friends,

It is summertime and vacation time. The world is volatile - a few days ago Iceland won over Great Britain in football, against all believes! A few days before the football game UK vote for leaving the EU, against all believes! Fortaco is experiencing changes, against all believes, from market, customer and internally. We listen and we adapt by enthusiastic and hard teamwork.

The first half year of 2016 has addressed many positive news and stronger collaboration with our customers and suppliers. The Operational Excellence journey of Fortaco will continue to deliver the right performance.

I wish you, your family and nearest a warm and relaxing holiday. Fortaco needs you, and we are looking forward to delivering together the great second half of 2016.
Together we shape your industry,