Tuesday, February 8, 2022
Ponsse will be now independently responsible for its sales, spare parts and maintenance services in the Czech Republic. On the February 4, 2022, Ponsse signed a deed of sale, in which it agrees to purchase all shares in Křenek Forest Service s.r.o (hereinafter “Krenek”), its Ponsse forest machine and service dealer in the Czech Republic. The aim is that Ponsse services in the Czech Republic will transfer to Ponsse Group by April 1, 2022. The company will operate as a subsidiary wholly owned by Ponsse.
The business arrangement has no impact on the previous guidance. The price of the transaction between Krenek and Ponsse will not be made public by mutual agreement, because the purchase price has no impact on the measurement of Ponsse’s value. The purchase price will be paid in cash on the condition that certain requirements set for the transaction are fulfilled. Ponsse will finance the acquisition from its cash assets.
“We’re proud to continue Krenek’s work in the Czech Republic. It’s been an honour for Krenek’s family-owned business to take care of customer relationships with relentless honesty and commitment, which also lays the foundation of our operations. We promise to provide our local customers with continuously developing high-quality PONSSE solutions and services, also in the future, and we see a lot of potential in this market. Our local employees will play a crucial part in this,” says Juho Nummela, President and CEO of Ponsse Plc.
Earlier in November 2021, Ponsse announced its intention to establish a subsidiary in Chile as well. Following the establishment of these new subsidiaries, Ponsse Group consists of 14 subsidiaries and 44 dealers. In addition to its international subsidiaries, Ponsse Group includes the technology company Epec Oy in Finland. Exports account for 80 per cent of Ponsse’s production at its factory in Vieremä, Finland. In addition to the company to be acquired in the Czech Republic, Ponsse has European subsidiaries in Sweden, Norway, France, the UK, and Ireland.
Tags: czech Republic, forestry and timber sector, Forestry Technology, Industry 4.0, PONSSE, woodworking and manufacturing, woodworking industry, woodworking machinery
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