August 1, 2019
The daily brief: 1 August 2019
Finnish casual food chain Fafa's is opening a restaurant in London's Covent Garden in September.
All the daily Finnish business news that works: MacGregor, Fafa’s and Wärtsilä make headlines.
MacGregor has strengthened its marine and offshore activities with an acquisition, Fafa’s is expanding its Mediterranean kitchen to London, and Wärtsilä is boosting a power plant in Egypt.
MacGregor, part of Cargotec, has completed the acquisition of the marine and offshore businesses of TTS Group for an enterprise value of approximately 87 million euros. The businesses will be integrated into MacGregor’s operating structure and strengthen the Finnish company’s position in key markets for cargo and load handling equipment. The deal also promises to improve MacGregor’s position in China due to strategic joint ventures between the TTS Group businesses and China’s state-owned ship building companies CSSC and CSIC.
Finnish street food chain Fafa’s will open its first site in the UK this September, in London’s Covent Garden. Fafa’s serves Mediterranean cuisine, including vegan-friendly and meat-filled pitas, meze dishes and salads. The first Fafa’s kiosk was opened by Tel Aviv-born Doron Karavani in the centre of Helsinki in 2011, and today the chain boasts 40 restaurants across Finland, Sweden and Estonia.
Finnish technology group Wärtsilä is adding capacity to an existing power plant in the industrial town of Borg El Arab, some 45 kilometres southwest of Alexandria, Egypt. The order is for two Wärtsilä 34SG gas engines with a combined output of 19MW, which will increase the plant’s capacity by two thirds. The plant is owned and operated by one of Egypt’s largest private electricity service providers, Kahraba. Once operational towards the end of 2020, the extended facility will help meet the electricity demand of the growing local industry.
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