Permascand starts its next level of growth, building on its existing approach and Products & Services.
Ljungaverk, Sweden | Nov 1st, 2012.
Permascand, the international supplier of electrodes and electrode coatings and equipment in high-grade materials such as titanium and aluminum, in particular for the offshore sectors services announces the completion of its management buy-out.
The buyout was backed by funding from regional investment companies Mittkapital and Inlandsinnovation as well as from three members of the company’s current top management, thereby becoming owners of the company.
The company is being sold by AkzoNobel’s business unit Pulp and Performance Chemicals, and the new group of owners assumed responsibility effective from November 1, 2012. Permascand will continue to serve AkzoNobel Pulp Performance Chemicals with products and services for its Chlorate industry worldwide.
Fredrik Herlitz, Managing Director of Permascand comments: “We look forward to continuing to develop Permascand from the strong base established during its time within AkzoNobel. We will now be focusing on growth,” says Fredrik Herlitz, President of the company”.
For further information:
Fredrik Herlitz, Managing Director Tel. +46 70 2655 600
Jan-Olof Strömberg, Manager Marketing & Sales Tel: +46 70 680 0223
Permascand holds a strong global position with regard to electrodes and electrode coatings. The company also holds a prominent position in the Nordic market when it comes to processing titanium and other high-grade materials for applications in the process and offshore sectors as well as marine applications.
Inlandsinnovation is a government-owned venture capital company with a focus on northern Sweden’s inland for its operations. Inlandsinnovation has a financial framework of SEK 2 billion.
Mittkapital is an investment company with a focus on investments in Jämtland and Västernorrland Counties, with a capital of SEK 200 million. It is a wholly owned subsidiary of the Sixth AP Fund and is partly financed by EU funds.