Latour acquires Lahden Teräteos Oy
Investment AB Latour (publ) has, through its subsidiary LSAB Group AB (LSAB), a part of Latour Industries AB, signed an agreement to acquire 100 per cent of the shares of Lahden Teräteos Oy (LTT).
LTT is based in Lahti, Finland, has 23 employees and a turnover of EUR 2.4 m (2021). LTT is a specialized Finnish manufacturer of customized and tailor- made tools for profiling and supplier of standard tools for the woodworking industry. The company was founded in 1962 and will reinforce LSABs position in Finland as well as broaden the product offering of LSAB today.
LSAB is a leading provider of tools and services related to chip making in the wood and metal industries. LSAB have operations in the Nordics and the Baltics and employs about 300 people.
"LTT is a very interesting company for LSAB and we are excited about them joining the LSAB group. We are convinced that the strength of LTT as a specialized manufacturer will be further reinforced by being a part of LSAB and having additional exposure to the markets where LSAB is operating”, says Hans Ekholm, CEO at LSAB Group AB.
"I am very grateful that LTT now will be a part of LSAB. The strong market position of LSAB in northern Europe will allow LTT to continue expanding”, says Juha Viinikka, CEO Lahden Teräteos Oy.
The acquisition will be completed in November 2022.
Göteborg, 11 November, 2022
INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO
For further information, please contact:
Björn Lenander, CEO Latour Industries, +46 708 19 47 36
Hans Ekholm, CEO LSAB Group, +46 730 39 97 60
Fredrik Lycke, Investment Director Investment AB Latour, +46 793 40 2802
LSAB Group AB with headquarters in Gothenburg, Sweden, has an annual turnover of SEK 500 m (2021) and employees about 260 people.
Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 63 billion. The wholly-owned industrial operations has an annual turnover of SEK 20 billion.
