Partek Oy Ab, a listed Finnish engineering firm, Swedish Addum Ab and Industri Kapital are to form a new company consisting of Partek's precast concrete operations and Str„ngbetong AB, a subsidiary of Addum. Addum is a Swedish development firm mainly concentrated in the building and engineering sectors. Its turnover is around SEK 3.2 billion and its main shareholder (70 per cent) is Industri Kapital, a Swedish private equity firm with funds of around SEK 4 billion. Str„ngbetong is Sweden's market leader in the precast concrete sector.
The new company will have an turnover of around 540 million US$ and approximately 3400 employees. Partek will own 40 per cent, Addum 40 per cent and Industri Kapital 20 per cent of the new company. The new company, which is yet to be named, will be the market leader in Northern Europe in the precast concrete sector.
The arrangements are a realisation of Partek's aim to concentrate on its main business sector, i.e. engineering and transport equipment. It is likely that Partek will sell its share of the new company in the future.
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