Komas and Ruuki form new company through asset deal

Funds managed by CapMan and Rautaruukki have agreed to combine the units of Komas and Ruukki’s engineering division to form a new company through an asset deal.

The new company is called Fortaco and will reportedly be Europe’s largest system and component manufacturer for the mechanical engineering industry.

In 2012, Fortaco is expected to generate turnover, pro forma, of approximately €270m (£218m) and will have around 2,600 employees.

Its customer base includes engineering OEMs and its main products are welded and machined components, ready-to-install operator cabinets and fully assembled machines and equipment.