Latour acquires Lahden Teräteos Oy
Investment AB Latour (publ) has, through its subsidiary LSAB Group AB, a part of Latour Industries AB, signed an agreement to acquire 100 per cent of the shares of Lahden Teräteos Oy (LTT).
LTT is based in Lahti, Finland, has 23 employees and a turnover of EUR 2,4 m (2021). LTT is a specialized Finnish manufacturer of customized and tailor- made tools for profiling and supplier of standard tools for the woodworking industry. The company was founded in 1962 and will reinforce LSAB Groups position in Finland as well as broaden the product offering of LSAB Group today.
LSAB Group is a leading provider of tools and services related to chip making in the wood and metal industries. LSAB Group have operations in the Nordics and the Baltics and employs about 300 people.
”LTT is a very interesting company for LSAB Group and we are excited about them joining the LSAB Group. We are convinced that the strength of LTT as a specialized manufacturer will be further reinforced by being a part of LSAB Group and having additional exposure to the markets where LSAB Group is operating”, says Hans Ekholm, CEO at LSAB Group AB.
”I am very grateful that LTT now will be a part of LSAB. The strong marketposition of LSAB Group in northern Europe will allow LTT to continue expanding”, says Juha Viinikka, CEO Lahden Teräteos Oy.