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Finnish firms make buys abroad

The Cathelco factory is located in Chesterfield, UK.Evac

Finland’s Evac and Huhtamäki are making acquisitions to expand their product portfolios and open up new business opportunities.

Evac, a leading provider of integrated waste, wastewater and water management solutions for the marine, offshore and construction industries, is set to acquire Cathelco, a UK-based designer and manufacturer of ship and offshore equipment.

The Finnish cleantech company will thereby expand its product and service portfolio in three key areas: pipework anti-fouling systems, hull-corrosion protection systems and ballast water treatment systems.

Tomi Gardemeister, the CEO of Evac, is excited by the opportunities created by the acquisition.

“An extended cleantech system offering, together with an enlarged sales and service network, will allow us to offer a more comprehensive range of solutions and services to our customers,” he says, in a release. “This acquisition provides a tremendous opportunity for Evac and Cathelco to work together to become a leader in the field of ballast water treatment systems.”

The terms of the acquisition have not been disclosed.

Huhtamäki, in turn, has improved its position in the growing short-run custom-printed cup market by acquiring a 70 per cent stake in Cup Print Unlimited Company, a privately owned paper cup manufacturer based in Ireland.

The debt-free price of the acquisition was roughly 22 million euros, according to a press release from the leading provider of food and drink packaging.

Published on 04.06.2018