Fortaco press release – 28 December 2012

Establishing a new company called Fortaco was agreed in October 2012 by the funds managed by CapMan (CapMan) and Rautaruukki Corporation (Ruukki).The new company was planned to be established by combining units of Komas and Ruukki’s Engineering division and the agreement has now been finalized. Fortaco becomes Europe’s largest manufacturing partner for the engineering industry.

The CEO of Komas Group, Mika Kari MSc (Industrial Engineering and Management), has been appointed Fortaco’s CEO. In addition, the management team comprises Esko Harila (CFO), Erik Skogström, Ville Jaakkola, Jukka Mäkelä, Tomas Forsgård and Juha Simola. The Board of Directors comprises representatives designated by CapMan, Peter Augustsson (Chairman), Jan Mattlin and Lars Hellberg, members designated by Ruukki, Mikko Hietanen and Marko Somerma and in addition Jukka-Pekka Nikula.

The company is formed through the combination of compatible and complementary units of Ruukki and Komas. Fortaco’s largest owner with a 66.5% stake is CapMan and Ruukki will hold 19.0% of the company’s equity. Komas’ units excluded from the arrangement will continue to operate as an independent company, Komas Keski-Suomi, with Antti Jokitalo as new CEO and under CapMan’s and other present ownership.