Turkey's OYAK Group has announced that its subsidiary, Finnish steel producer Miilux OY, has completed the acquisition of Häggblom, a Finnish and Swedish manufacturer of mining equipment parts and an on-site mining service provider formerly owned by Finnish engineering and technology company Metso.
Integration of production facilities and workforce
According to Oyak, the deal covers Häggblom's production facilities in Finland and Sweden, as well as about 100 employees, all of whom joined Miilux OY after the acquisition was completed.
The company emphasized that this integration will significantly increase its production and service capacity in Europe, allowing Miilux OY to provide faster and geographically closer services, especially to large mining companies operating in Sweden.
Using idling to support growth
Oyak Group explained that its Finnish operations have reached capacity limits in the production of armored steel, wear-resistant steel and related components. According to Erdinc Kochajnak, Chairman of the Board of Directors of Miilux OY, through the acquisition, the company aims to activate Häggblom's existing idling facilities, which will increase production volumes and increase profitability.
