Finland: Two Moventas Companies Merge

Wind gear manufacturer Moventas Wind Oy and industrial gear manufacturer Moventas Santasalo Oy are merging into one company on 31 August, 2012. The new company, named Moventas Gears Oy, continues the operations of both companies.

“Our new name, Moventas Gears, represents us well. We are an expert in power transmission, whether our customer operates in the forest, wind power or minerals industry. As a company we are a more uniform, strong global actor than before, and all customer segments are equally important to us,” describes President & CEO Mikael Laine .

The globally well-known Santasalo name will remain as a brand under the Moventas Industrial Gears business area.

“We highly appreciate our decades of history, which our know-how and reputation are based on. However, as a company, in this moment we must consider ourselves as one, determined team, looking into the future. We are working hard to achieve our growth goals,” Laine continues.

Over the spring of 2012, Moventas has created a strategy, which aims to double the company’s net sales by the end of 2015.

The company is also centralizing its operational functions in Finland. Moventas’ wind gear and industrial gear production is centralized into two factories in Jyväskylä, by moving the industrial gear production from Karkkila to Jyväskylä by the end of the year.

The merger, taking place on 31 August, has no personnel or business impacts nor direct impact on the operations of Moventas’ eight subsidiaries abroad. Moventas Gears is owned by the global engineering group Clyde Blowers through its investment fund.

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Offshore WIND staff, August 16, 2012; Image: Moventas