In a new agreement Cargotec and JCE Invest AB have established a new joint venture, Bruks Siwertell Group (BSG), specialised in dry bulk handling. BSG will own Siwertell AB, which was previously part of Kalmar Business Area within Cargotec, and BRUKS Holding AB, previously part of JCE Group. Both companies are world-leading suppliers of bulk materials handling solutions.
Cargotec will own 48 per cent of the shares in Bruks Siwertell Group with the balance of shares owned by JCE Invest AB. The transaction has been signed and closed on 9 May 2018.
"This is a true partnership between two strong brands, Siwertell and BRUKS, as they complement each other very well both in terms of product portfolio and market coverage. Siwertell will benefit from BRUKS's strong position in the US market whereas BRUKS will gain access to Siwertell's Asian network, knowledge and exposure. Together we will be a full line supplier for almost all types of bulk materials,” says Per Karlsson, Siwertell’s managing director.
"Together BRUKS and Siwertell will have a strong position in the dry bulk handling industry and attractive growth opportunities in new markets and customer segments including biomass, bioenergy and biofuels industries. This cooperation will add customers, competence, additional knowledge, capabilities and products to support the future growth of the new company", says Peter Jonsson, Group CEO of BRUKS.
