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.