REMA TIP TOP, a system supplier of services and products for conveyor and processing technology around the world, has acquired Iin Hihnatyö, headquartered in northern Finland. This strengthens REMA TIP TOP’s conveyor technology business in Northern Europe.
REMA TIP TOP Oy, the Finnish subsidiary of REMA TIP TOP AG, has purchased Iin Hihnatyö Oy, a specialist for service, commissioning, maintenance, and repair of conveyor systems. This expands REMA TIP TOP’s portfolio for customers in the industrial conveyor technology industry in Finland, which before was primarily focused on the sale of conveyor belts and the corresponding consumables. “Internationally, we are known not only for our high quality standards, but also for our consistent focus on services,” states Thorsten Wach, CEO of REMA TIP TOP AG. “The acquisition of Iin Hihnatyö is the ideal way to strengthen and expand our service business in Northern Europe.”
Before acquiring the company headquartered in Oulu, northern Finland, REMA TIP TOP has long had a partnership with the company, which is reflected in its distinction as an authorized REMA TIP TOP service partner. The acquisition is part of the global corporate strategy of REMA TIP TOP to provide customers with products and services for conveyor technology all from a single source as a complete provider.
“Our investment in Iin Hihnatyö is an investment in an experienced partner with longstanding, good relations with our company and that has been an expert in the industry for years,” says Ben Wickström, CEO of REMA TIP TOP Finland, regarding the acquisition.
“Together with Iin Hihnatyö, we are now well prepared to offer companies in Finland a complete conveyor technology package, from installation to materials and maintenance, which will allow us to make major contributions to our customers’ success,” adds Thorsten Wach. As part of the acquisition, Iin Hihnatyö will also receive direct access to the technological expertise of the REMA TIP TOP Group, allowing for a significant reinforcement in the company’s market position.
Services for a range of industries
The acquisition also includes numerous service contracts with the Finnish heavy manufacturing industry. The segments in which Iin Hihnatyö is active range from the quarry industry in the north to the mining, steel, paper and woodworking industries. The parties involved have agreed not to disclose any financial details of the acquisition.
About REMA TIP TOP
REMA TIP TOP is a system supplier of services and products across the world for conveyor and processing technology and for tyre repair. The company has a global service network, offering a broad spectrum of rubber products, rubber linings, and coatings for industrial and automotive uses. With almost a hundred years of experience, REMA TIP TOP has collected a unique range of expertise in material development and industrial services. The company is active in the Material Processing, Surface Protection, and Automotive divisions.
At the end of the 2015 fiscal year, REMA TIP TOP had generated revenues of over 800 million euros. The company has over 5,500 employees across the globe, with more than 140 subsidiaries and affiliated companies – including renowned brands like Dunlop Belting Products South Africa, Cobra/Depreux, and Asplit.
About Iin Hihnatyö
With over 30 years of experience in the area of conveyor and drive technology, Iin Hihnatyö Oy is a well-known supplier in the Finnish market. Headquartered in Oulu in northern Finland, the company offers conveyor belts, idler rolls, and cleaning systems from REMA TIP TOP as well as a 24-hour assembly service. Iin Hihnatyö provides its customers with competent, knowledgeable consultation as well as support for both new and existing conveyor systems.
- SMT Scharf steps up its South American Sales
- Alacer Gold achieves Key Milestone for the Çöpler Sulfide Expansion Project in Turkey
- Anglo American to appoint Nolitha Fakude to the Board
- Joint Venture of Vinci Construction with Spie batignolles wins Contract on Line 15 South of the Grand Paris Express Transport Network
- Continental signs collaborative Agreement with Caterpillar