On April 23, 2007 AS Hekotek shares majority was acquired by international concern, based on Swedish capital, Sorb Industri AB.
“Sorb purchased 82,5% of Hekotek in order to support future development of the company”, commented Mr. Priit Raud, Hekotek new Board member and representative of Sorb Industri AB.
By the current moment Hekotek and Sorb group companies have been cooperating already for some 4-5 years. “Engaging Hekotek in Sorb group of companies was aimed at making this cooperation even more efficient and achieving synergy effect” – added Mr. Raud, who stressed that Hekotek is the only Estonian sawmill equipment manufacturer, whose products successfully compete in the world market.
Major part – about 70% – of Hekotek products is exported, main export markets being Russia, Germany, Sweden and Finland.
Change of Hekotek ownership structure will not affect any major structural changes in the company. All of the jobs will be preserved and new people will be hired when required. Regarding the future plans Mr. Raud noticed shortly: “We are profit-making company striving for continuous growth.”
Sorb Industri AB is a Swedish concern, active in five different areas, mainly producing essential equipment for sawmilling and other industrial sectors. There are almost thousand people working in the concern, its turnover exceeds 130 million Euro.
10.05.2007
