I am extremely happy that we finally found a good new home for Pivatic when the Ursviken Group and Vaski Group signed yesterday the SPA of Pivatic Oy. With this acquisition Vaski Group Oy expands its operations and targets to robust growth in coming years together with Pivatic Oy. This combination is a merger of equals where both Vaski and Pivatic has recently achieved a record order backlog total of over €22 million together. After the purchase, the combined sales will exceed €25 million and 100 staff. Vaski significantly enhances its coil-fed systems business with Pivatic's focus on coil- and blank fed punching, bending, shearing and system integrations for sheet metal processing. Vaski's bus bar and special machines systems support the growth and offer customers and our sales representatives wider solution range to offer in the market. Last three years has been extremely tough in our industry and we have been facing hard times with Covid travelling restrictions as we export over 95% and was effecting on sales, installations and services abroad. After start of war in Ukraine, problems with steel and components supply chain and container logistics as well as rapidly growing materials and subcontracting costs effecting profitability and latest the raise of interest rates and slow down of the growth of European countries GDP which both has effect on our industry and customers readiness to invest. Both Vaski and Pivatic has been able to overcome these challenges and our current order backlog is a significant achievement and evidence of good work done over the last three years in both companies. Our customers are already looking towards the next growth cycle which we believe will be starting during this year. Now begins the next step for all of us in Vaski Group when we start next week to find synergies in sales and marketing, distribution network, engineering and R&D, purchasing and manufacturing and customer support. It will be interesting journey for all of us! Read the whole press release on our website: https://lnkd.in/dX3JvfkR #pivatic #vaski #ursvikengroup #acquisition #sheetmetal #sheetmetalfabrication
Congratulations and wish you all the very best for the future 👍
Thriving through adversity proves the strength of vision and teamwork 🚀 - Aristotle believed in harnessing the collective power for greatness. Congrats on shaping the future of innovation in sheet metal fabrication! #teamwork #innovation
It will be a great partnership Jan, congratulations 👍🏼
Onnea yhteisyritykseen, kyllä siinä nyt hartiat levenee.
I’m clad to hear your news👍Just keep on rocking
All the best👍
I wish you all the best in the future!
Congratulations Jan-you're a bountiful survivor!
Congrats to all of you. Wish you all the best for he future!
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9moHope the new set up will offer the complete and economical solution to the customers world over. Wish great success.