Björneborg Steel and Blue Future (part of MVG, Motala Verkstad Group) have signed a letter of Intent (LOI) where Björneborg Steel will acquire part of Blue Futures operations at the Höje site in Kristinehamn. The acquisition relates to the part of operations which finish machines primarily marine shafts but also other shafts and components to fine tolerances.
This enables Blue Future to strengthen its focus for growth within service business at their Kristinehamn units as well as within their other manufacturing business to other customer segments including the defense industry.
Björneborg Steel now strengthens its competitiveness by ensuring in-house capabilities from scrap to ready-made shaft lines and other components.
The acquisition is subject to Due Dilligence but both parties have an ambition to conclude the transaction shortly and to have a take-over by 1 januari, 2020.
The acquisition comprises a number of long lathes, milling machines and other critical equipment for completion of shaft lines and other components. Besides take-over of the operation Björneborg Steel also takes over part of the lease contract for the relevant part. Related staff will be welcomed and offered an employment within Björneborg Steel AB.