BRUKS, Siwertell form BRUKS SIWERTELL Groupa

JCE Invest AB, Sweden, has signed an agreement with Cargotec, Finland to establish BRUKS SIWERTELL Group which will specialize in dry bulk handling.

The new company will own Siwertell AB (previously part of Kalmar Business Area within Cargotec) and BRUKS Holding AB (previously part of JCE Group). Both companies are suppliers of bulk materials handling solutions. Cargotec will own 48% of the company and JCE Invest will own 52%. The transaction closed on 9 May 2018.

This is a true partnership between two strong brands as they complement each other both in terms of product portfolio and market coverage. Siwertell will benefit from BRUKS’ strong position in the US market and access to BRUKS’ complete line of bulk handling equipment whereas BRUKS will gain access to Siwertell’s Asian network, knowledge and exposure. The plan is to finalize the integration by the end of September 2018.

For further information: Peter Jonsson, CEO BRUKS SIWERTELL Group,

www.bruks.com

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