Turkey’s OYAK Group has announced that its subsidiary the Finnish steel producer Miilux OY has completed the acquisition of Häggblom, a Finland- and Sweden-based manufacturer of mining equipment parts and provider of on-site services at mining operations, previously owned by Finnish engineering and technology company Metso.
Production capacity and workforce integrated
According to Oyak, the transaction covers Häggblom’s manufacturing facilities in Finland and Sweden, along with approximately 100 employees, all of whom have joined Miilux OY following the completion of the acquisition.
The company underlined that this integration will significantly increase its production and service capacity in Europe, while allowing Miilux OY to provide faster and geographically closer services, particularly to major mining companies operating in Sweden.
Utilizing idle capacity to support growth
Oyak Group explained that its Finnish operations have reached capacity limits in the production of armor steel, wear-resistant steel and related components. According to Erdinç Kocayanak, chairman of the board of Miilux OY, through the acquisition the company aims to activate Häggblom’s existing idle capacity, enabling higher production volumes and improved profitability.
