News
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21.04.2008
Peikko Group extends its product portfolio with Modix-rebar coupler
Peikko Group has acquired a rebar coupler product line branded as “Modix” from the Schöck AG of Baden-Baden, Germany. The purchase includes patents, product approvals, trademark, raw materials, finished stock and various production machinery.
The rebar coupler market is estimated to be more than EUR 50 million in Europe alone. Peikko’s target is a significant share of this market within 3-5 years. There are clear synergies of Schöck’s rebar coupler product and Peikko’s existing product range with regards to sales, distribution, R&D and production. The divestment of the Modix-product line fits with Schöck long-term strategy to focus on construction products related to thermal and noice insulation. There are no immediate effects on employment of either party.
“We are excited by the possibilities of the new product line and how its fits to Peikko’s current product offering”, states Raimo Lehtinen, Managing Director of Peikko Group. The case can be seen as a win-win-situation for both parties., Nikolaus Wild, CEO of Schöck AG confirmed: “The sale of Modix releases resources for Schöck to secure the growth in our core competences. We are also very happy to co-operate with Peikko, with whom we have had co-operation in e.g. technical seminars already more than five years.”,
Starting 1st of May 2008 Peikko Group is fully able to support the existing and new Modix customers. Marketing activies of the product range will start during summer in various 20 European countries where Peikko operates.
Further information:
Raimo Lehtinen, Managing Director, Peikko Group Tel. + 358 – 40 – 520 9260
Nikolaus Wild, CEO, Schöck AG Tel. + 49 – 7223 – 967 118Peikko Group is a Finnish family-owned company specializing in composite beams and fastening products for concrete connections. Peikko Group’s parent company Peikko Finland Oy has subsidiaries in Austria, Canada, the Czech Republic, Denmark, Estonia, Germany, Italy, Lithuania, the Netherlands, Norway, Poland, Russia, Slovakia, Spain, Sweden, the United Arab Emirates and the United Kingdom. The production facilities of Peikko Group are located in Lahti, Finland, in Waldeck, Germany, in Kralova, Slovakia and in Kaunas, Lithuania. Peikko Group’s sales turnover in 2007 was EUR 94 million and it targets more than 20% growth for 2008. Peikko Group employs presently more than 800 people. Further information: www.peikko.com
Schöck AG is a German family-owned company group providing innovative solutions and services for thermal and noise insulation. Its headquarters are at Baden-Baden in southern Germany and there are subsidiary companies in Austria, Switzerland, the Netherlands, Great Britain, Poland and Hungary, further sales teams in France, Belgium, Italy and Russia and partners all over in Europe. The production facilities are located in Germany, Poland, Austria and Hungary. Schöck is the inventor and leading specialist for thermal breaks in cantilever constructions with 10 million installations of Schöck Isokorb in Europe. The sales turnover of Schöck AG in 2007 was EUR 72 million. Schöck employs presently 450 people. Further information: www.schoeck.com