ArcelorMittal Construction Sweden has acquired the Kungshamn panel production line of Llentab in Sweden.
Production in Kungshamn will be run in close co-operation with Llentab, a manufacturer and contractor for steel buildings.
The deal was first announced last December and since then, intensive work has been underway to prepare for the takeover on 1 April 2021. Today, the takeover was celebrated with a ceremony in the production premises in Kungshamn.
Speaking on-site, ArcelorMittal Construction Scandinavia CEO Van Hoa Nguyen, commented:
"We are very happy to be celebrating the completion of the deal today, and the start of ArcelorMittal operating here in Kungshamn. There is a lot involved in a successful takeover of an industrial asset such as this panel production line, in terms of both people and technology. I am extremely proud of everyone in the team who has put their soul into getting everything in place."
The line, which produces mineral wool (MiWo) panels for steel buildings, adds to the existing profile production lines in ArcelorMittal Construction’s Swedish business, and will boost the company’s competitiveness in the Scandinavian market by giving it its first panel production manufacturing capability in the region.
“This acquisition will allow us to further develop ArcelorMittal Construction’s business in a very dynamic market, by developing and expanding production of MiWo panels in Kungshamn to its full potential and becoming the first-choice supplier of panels in Scandinavia. We will continue to invest in the business here in Kungshamn and hope to create more job opportunities in the area" Van Hoa Nguyen continued.
"We welcome ArcelorMittal as a ‘neighbour’ here in Kungshamn and look forward to continued co-operation with them", said Stefan Eklund, CEO of Llentab Group.