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Peikko sells its reinforcing mesh business to Finnish company Rämö

Since 1983 Peikko has sold reinforcing mesh made of black and stainless steel mainly to precast element factories in Finland and the neighboring regions. The business volume of the reinforcing mesh business has been in recent years around EUR 2 million. 

Peikko Group’s Finnish subsidiary Peikko Finland Oy sells its reinforcing mesh business the Finnish company Rämö Oy. The sale enables 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. The sale does not involve personnel, and it 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 the manufacture and sale of stainless steel reinforcing mesh. With the acquired production line Rämö can remarkably 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. 

”With help of the reinforcing mesh business of Peikko we can expand our mesh production to stainless steel, and thus better serve our customers with a wider product range. I am convinced, that a more comprehensive service concept enhances our effectivity and competitiveness on the market”, states Paavo Rämö, Managing Director of Rämö Oy.

 

Further information:
Topi Paananen, CEO, Peikko Group Corporation,
Mobile: +358 50 384 3001, Email: topi.paananen@peikko.com

Paavo Rämö, Managing Director, Rämö Oy
Mobile: +358 40 557 2844, Email: paavo.ramo@ramo.fi 

Distribution:
Main media, Peikko websites 

Peikko Group in brief:
Peikko Group Corporation is a leading global supplier of concrete connections and composite structures. Peikko’s innovative solutions make customers’ building processes faster, easier, and more reliable. Peikko has subsidiaries in 30 countries in Asia-Pacific, Europe, the Middle East, and North America, with manufacturing operations in 9 countries. Peikko’s turnover in 2014 was EUR 147 million. Peikko is a family-owned and run company that employs over 1 200 professionals. Peikko was founded in 1965 and is headquartered in Lahti, Finland. Further information: www.peikko.com

Rämö Oy in brief:
Rämö Oy is a family-owned company established in 1935. Its business operations comprises of an engineering workshop and reinforcing mesh production. The company is the oldest producer of welded reinrforcing mesh in Finland and its production unit is situated in Imatra, Finland. The reinforcing mesh business employs around 20 persons and the annual production volume is around 5000 tons of different kinds of reinforcing meshes. Further information: www.ramo.fi