Peikko Group’s Finnish subsidiary Peikko Finland Oy has sold its reinforcing business to Finnish company Rämö Oy.. The sale facilitates Peikko to better focus on its core business with regards to production facilities and personnel. The sale includes Peikko’s reinforcing mesh production line, the raw material stock as well as commercial and technical know-how. It does not involve personnel, and has no direct impact on Peikko’s head count at the Lahti factory or Rämö’s head count at their Imatra factory. The transaction will enable Rämö to engage in the manufacture and sale of stainless steel reinforcing mesh. With the acquired production line Rämö will be able to enhance its reinforcing mesh business. ”It is always difficult to give up parts of business. However, the branch is changing and needs bigger players. The Finnish precast industry will now have one big player on the market, and we believe that the ones benefiting most of this transaction are the Finnish customers”, describes Topi Paananen, CEO of Peikko Group Corporation.
