PRESS RELEASE
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 (FIN), has 23 employees and a turnover of 2,4 mEUR (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. Today LSAB have their own operations in six countries and export to another 40 countries around the world.
"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 will allow LTT to continue its growth journey while supporting LSAB with our unique knowledge”, says Juha Viinikka, CEO Lahden Teräteos Oy.
The acquisition will be completed in November 2022.
Göteborg, November 1st, 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
