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01.11.2021

Steel service company Feon expands their business through an acquisition - Akaa Steel extends Feon’s product range

PRESS RELEASE Helsinki 1st of November, 2021 10:30

A Finnish steel service company Feon has acquired steel service center Akaa Steel, which specializes in thin sheet products, both custom and standard length. The purpose of the acquisition is to extend Feon’s range of products and services and help the company become one of the leading companies in the steel service industry.

There is good news in the Finnish steel product market: Feon Ltd, a Finnish steel service company is the new owner of Akaa Steel Ltd, a steel service center based in Pirkanmaa, Finland. Feon extends its product range to cutting-to-length service of steel sheets.

“Feon has cooperated with Akaa Steel in the past and the transaction is the next logical step on our strategic journey towards a more comprehensive and better product range. Now we have the opportunity to grow the total number of sheet steel sales through our own organization as we are able to provide a wider product range to our customers”, says the CEO of Feon, Petri Kalliokoski.

“I believe that Feon, a family-owned company, is a good new owner of Akaa Steel. They have the resources to expand and develop the business in the future”, adds the CEO of Akaa Steel, Pekka Neejärvi.

Akaa Steel and its staff continue to work as before. The acquisition does not affect their current customer or supplier relationships.

Akaa Steel diversifies Feon’s range of products and services

While aiming to position itself as one of the leading companies in the Finnish steel service industry, Feon hopes to serve customers across the country with a wide range of products and services. Previously in 2020 and 2021, Feon acquired steel service businesses AluSteel and Kontino.

“Along with the acquisitions, we have developed a very broad range of products and services. We have become a market leader in several product categories. In the future, we will develop our operations even further in order to serve our customers in a better way”, states the CEO of Feon, Petri Kalliokoski.

In the future Feon is able to provide their customers an opportunity to make centralized purchases and diversify the range with more tailored products and services through the extended range.

For more information:

Petri Kalliokoski, CEO, Feon Ltd
petri.kalliokoski@feon.fi
+358 40 135 4950

Pekka Neejärvi, CEO, Akaa Steel Ltd
pekka.neejarvi@akaasteel.fi
+358 50 360 9235

Feon Ltd is the largest domestic steel service company in Finland. The company’s goal is to offer its customers a smooth and comprehensive delivery and service in steel products throughout the Finnish market. Feon’s customers are experts in machine and equipment manufacturing and steel construction. Feon helps develop Finnish industry by digitising services and operating methods. The Feon Group includes a subsidiary operating in Uusikaupunki, AluSteel Oy. Together, Feon and AluSteel have a turnover of approximately EUR 170 million and employ approximately 220 people in Finland. Feon is owned by Onvest Oy, a Finnish family-owned business.

www.feon.fi

Akaa Steel Ltd specializes in steel service and cutting-to-length service of steel sheets. The steel service center was founded in 2007 in Akaa, Southern Pirkanmaa, Finland.

www.akaasteel.fi



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