Aspokem Acquires Sealco Operations
2006-04-03T09:12:16 CETAspokem Ltd, an Aspo Group company, has acquired the operations of the Nummela-based Sealco Oy. Sealco imports automotive and industrial chemicals and products. In 2005, Sealco's net sales totaled approximately three million euros.
Sealco has a strong position as an importer of anti-corrosive agents for automotive applications. Automotive chemicals account for more than ten percent of Aspokem's net sales.
"The Sealco acquisition will help us generate significant synergies in the Automotive Chemicals unit. There are excellent opportunities to expand Sealco's Finland-focused business and supplement its product portfolio with Aspokem's current products," says Jari Ranne, Aspokem's CEO.
Sealco's ten-strong staff will work for Aspokem under their existing employment contracts. The company's main shareholder and Managing Director Timo Marsalo will remain in Aspokem's employment.
The Aspo Chemicals Division consists of Aspokem and its subsidiaries. Aspokem imports and markets industrial chemicals and plastic raw materials, and manufactures branded automotive chemicals. Its operations cover Finland, Estonia, Latvia, Lithuania, Russia, Ukraine and Sweden. Aspo Chemicals recorded net sales of EUR 73.6 million and an operating profit of EUR 2.2 million in 2005.
For more information, please contact: Jari Ranne, CEO, Aspokem Ltd., tel. +358 9 759 5201