FBM Mahler has advised Hombergh Holdings BV (HHBV) on the acquisition of the companies belonging to the Wire division of the former Ovako Group. The operations of the acquired companies will continue under the new name FNsteel.
The FNsteel Group, which produces and markets long special steel products in the form of wire rod and PC strand, consists of six production units in Finland, Sweden and the Netherlands. The turnover of the Group is around EUR 350 million and the number of employees is 800. The steel production capacity amounts to 600 000 tonnes per year.
HHBV is an industrial investor which was one of the major shareholders of the Ovako Group during 2006 and 2007, and therefore familiar with FNsteel’s business. HHBV has invested in a number of industrial companies, including ZND, a manufacturing company which produces drawn wire for construction applications, BTE, a prefab concrete products manufacturer and CirclePrinters, a pan European printing business.
http://www.fnsteel.com
