MSK Group expands with an acquisition in Central Europe
The Finnish industrial conglomerate MSK Group has acquired the entire share capital of Matec GmbH, a cabin manufacturer operating in Germany and Slovakia. With the acquisition, Matec's plants in Döbeln and Lipany become part of MSK Group. Matec manufactures cabins for machinery of many familiar brands, such as Manitowoc, Volvo CE, Liebherr, Komatsu and Cargotec.
The acquisition is part of MSK Group's strategy with which the group takes a confident step toward its goal of being the leading system supplier of safety cabins for mobile machinery in Europe.
"The acquisition is a significant step for the company and the entire region. The Central European expansion will not replace the Finnish operations but will supplement them, further strengthening MSK Group. We will continue to handle the Nordic, Baltic and Russian markets from Finland, while Matec will concentrate on customers in Central Europe. Supplemented with the expertise of MSK Plast, particularly in manufacturing plastic parts for mobile machinery, we will be one of the largest contract manufacturers of mobile machinery in Europe," says Timo Lehtioja, President of the Group.
He adds that the family business has a genuine will to develop its operations at all sites. "In accordance with our values, we want to provide our customers with exceptional quality, reliability and partnership while taking care of the well-being, safety and development of our staff."
"We are enthusiastic about the Matec's new industrial owner that is a world-class leader in cabin manufacturing. We believe that Matec can reach a new operational and turnover level as part of MSK Group," says Matec GmbH's CEOs Carsten Prilop and Stefan Thieme.
Matec's operative management will continue with their duties, reporting to MSK Group's President, Timo Lehtioja.
For more details about the acquisition, contact the Group's President Timo Lehtioja +358 50 553 3153 or Chairman of the Board Nanna Hietala +358 40 516 0406.
Established in 1950, MSK Group is a high-technology, family-owned group with operations in multiple industries. The Group's turnover totals approximately €100m and it employs 450 people. The Group's subsidiaries are MSK Cabins, MSK Plast, Junkkari and Juncar. Matec GmbH is a technology company founded in 1895. The Slovakian subsidiary was founded in 2013. The companies' turnover totals approximately €50m and they employ 200 people.
After the acquisition, MSK Group's most significant customers will include AGCO, Volvo CE, Manitowoc, Liebherr, Komatsu, Cargotec, Danfoss and ABB. The company's sites are located in Kauhava and Lapua, Finland, in Döbeln, Germany and in Lipany, Slovakia.
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