Ferronordic AB (publ) (OM:FNM) agreed to acquire Henrich Arnke for €0.08 million on November 17, 2022. Ferronordic will pay a compensation in the sum of €0.25 million for customer contacts and the right to use fixed assets. In addition to compensation to the owner, Ferronordic will invest approx.

€0.5 million in the facility to improve infrastructure and expand the parts inventory. Ferronordic also takes over 11 employees, of which 6 mechanics. Henrich Arnke will operate as integrated part of Ferronordic's operations in Germany.

The transaction is expected to be completed in February 2023.