Nordic Steel AS acquires IKM Stainless Technology AS
"For a long time Nordic Steel AS has grown organically together with the customers. The fact that large customers in all industries wants more from us is a great declaration of trust. We are challenged on larger projects and have the ability to carry out, but unfortunately some of the jobs we have had to turn down because of capacity", says Børre Lobekk, CEO of Nordic Steel AS.
In order to meet our customers' needs and desires for extended cooperation, we have for a long time probed current acquisition options. Our first choice has always been IKM Stainless Technology AS. Many skilled employees, a good culture, high quality deliveries and pride in their work are values common to both companies.
"IKM Gruppen AS's long-term strategy is to build down its mechanical activities and has for long searched for a solid and forward-looking owner for IKM Stainless Technology AS. Nordic Steel AS has had a great development that we have deep respect for. This is the company we together with IKM Stainless Technology AS believe can add the most value to the market in the future", says Ståle Kyllingstad, CEO of IKM Gruppen AS.
Both sides agree that the industry still needs to be consolidated even though there is currently "good pressure" in the region. We cannot expect anything other than that increased competition from abroad will apply to an even greater extent in the future. One major player, with the position to carry out larger projects is in high demand among serious actors in several industries. Everything from engineering, development, metal sheetwork, welding and assembly delivered from one location. In total for 2019, the companies will have a turnover of approximately 250MNOK spread over 80 employees and be well-positioned for further development together with existing and new customers.
