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BRUKS and Siwertell join forces to become Bruks Siwertell Group

Sweden-headed JCE Invest AB and Finland-headed Cargotec Oyj have announced the joint establishment of a market leading dry bulk handling group. By combining their wholly-owned subsidiaries BRUKS Holding AB and Siwertell AB respectively, the new joint venture will operate under the name Bruks Siwertell Group and will be jointly owned by JCE Invest and Cargotec Sweden.

BRUKS Rockwood was selected to provide complete engineering and equipment for the ship loader. This travelling, luffing, shuttling ship loader is designed to load wood pellets at a rate of 1 200 tonnes per hour (photos courtesy Bruks Rockwood).
BRUKS Rockwood was selected to provide complete engineering and equipment for the ship loader. This traveling, luffing, shuttling ship loader is designed to load wood pellets at a rate of 1 200 tonnes per hour (photo courtesy BRUKS Rockwood). BRUKS Rockwood was selected to provide complete engineering and equipment for the ship loader. This travelling, luffing, shuttling ship loader is designed to load wood pellets at a rate of 1 200 tonnes per hour (photos courtesy Bruks Rockwood).

BRUKS and Siwertell represent two of the strongest brands in the bulk handling industry and complement each other both in terms of product portfolio and market coverage. The new joint venture, Bruks Siwertell Group, will own BRUKS Holding AB, previously part of JCE Group and Siwertell AB, previously part of Kalmar Business Area within Cargotec.

Together BRUKS and Siwertell will have a strong position in the dry bulk handling industry and attractive growth opportunities in new markets and customer segments including biomass, bioenergy and biofuels industries. This cooperation will add customers, competence, additional knowledge, capabilities, and products to support the future growth of the new company, said Peter Jonsson, Group CEO, BRUKS.

The joint Bruks Siwertell Group is a full line supplier for almost all types of bulk materials and has a global market coverage with references on all continents. The Group sees attractive growth opportunities in both existing and new market segments through a joint offering combining Siwertell’s strong capabilities within ship unloading and loading and BRUKS’ leading solutions in bulk handling.

This joint venture supports Cargotec’s strategy to focus on container ports, heavy industrial segment and logistics. Siwertell’s business is outside these core focus areas, with different customers, customer locations and limited synergies with the rest of our businesses. By joining forces with JCE Group, we are able to create a company that will be a significant player in the bulk material handling with a globally competitive and specialised product portfolio, said Antti Kaunonen, President, Kalmar.

Both companies are world-leading suppliers of bulk materials handling solutions. Cargotec Sweden will own 48 percent of the shares in Bruks Siwertell Group, and JCE Invest AB will own the remaining 52 percent. The transaction has been signed and the deal was concluded on May 9.

This is a true partnership between two strong brands, Siwertell and BRUKS, as they complement each other very well both in terms of product portfolio and market coverage. Siwertell will benefit from BRUKS’s strong position in the US market whereas BRUKS will gain access to Siwertell’s Asian network, knowledge and exposure. Together we will be a full line supplier for almost all types of bulk materials, said Per Karlsson, Managing Director, Siwertell.

Bruks Siwertell Group will have annual sales of around SEK 1.4 billion (≈ EUR 136 million) and employ some 360 people, with offices in Sweden, US, Germany and Lithuania and a global network of representatives.

Facts

About BRUKS and Siwertell

BRUKS is a global leader in mechanical engineering and equipment supply for the bulk materials handling industries. The company provides specialized customer solutions, including the development of custom machines and systems. BRUKS product portfolio offers a wide variety of customized solutions for the bulk materials handling industry. Siwertell is a world-leading supplier of ship unloaders, road-mobile unloaders, port-mobile unloaders, ship loaders, mechanical and pneumatic conveying systems, and bulk terminal solutions. Most equipment is customized according to individual bulk operating requirements, but the company also offers standardized products.

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