Recent Mergers And Acquisitions In Finland - Kvaerner A/S Acquires Tampella Power Oy

The Norwegian multi-branch firm Kvaerner A/S acquired the Finnish firm Tampella Power Oy. Tampella Power Oy produces mainly soda recovery and power boilers. Its last year turnover was approximately 220 million U.S. dollars. The acquisition price was approximately 26 million U.S. dollars.

In connection with the transaction Kvaerner A/S will also acquire 26 per cent of Oy Tampella Ab, who previously owned Tampella Power Oy, through a directed share issue.

The competition in the boiler market is very hard, and last year Tampella Power made a loss of 59 million U.S. dollars. The badly debted Oy Tampella Ab did not have the strength or possibility to make Tampella Power profitable, but Kvaerner A/S with its size and international salespower is expected to have both the will and the way to make Tampella Power profitable again.

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