Extec Fintec Become One Under Sandvik's Umbrella
Extec and Fintec, two of the world's leading manufacturers of mobile screening and crushing equipment, have recently joined forces to become one the worlds leading manufacturer of such equipment. This merger has seen these two giants become part of the Sandvik group of companies following their acquisition in 2007. The acquisition impart a very strong base to Sandvik for further expansion auguring well for the growing segment of the construction industry.
"These acquisitions are in line with the Sandvik's long-term strategy of continued profitable growth and our aim is to become the leading supplier of mobile crushing and screening solutions to the market. By acquiring Extec and Fintec, we will extend our customer offering by adding mid-size, and light crushing and screening equipment and thereby become a strong supplier in this fast growing industry," says Lars Josefsson, President Sandvik Mining and Construction.
"Extec and Fintec have modern manufacturing facilities, they are strong in R & D and have well- developed distribution networks. This in combination with Sandvik's global resources will make it possible to grow our crushing and screening business into new markets and service our customers even better," says Lars Josefsson.
On Strong WicketsExtec based near Birmingham, is a leading designer and manufacturer of mobile crushing equipment for the construction industry. The company has 450 employees and reported sales of SEK1.8bn in 2006. The company has manufacturing acilities in Birmingham and Northern Ireland as well as sales and service facilities in Australia, US, and Germany.
Fintec is based 50 miles from Belfast in county Tyrone, manufactures screening equipment for the construction industry. The company has 325 employees and reported sales of SEK560m in 2006. Both the companies have vast knowledge of this industry and possess the most modern manufacturing facilities.
Wider Product RangeAs a result of this acquisition the widened and enlarged product range combines the expertise and experience of two proven leaders to provide a complete mobile screening equipment range that is suitable for quarries, demolition and recycling plants, and waste management facilities.
On the combination of these two market leading product lines, Mr.Hubert Watson, Sales and Marketing Director, said "the acquisition will provide customers with a wider, more comprehensive range of equipment to choose from; enhanced parts and after sales service and the backing of an internationally-renowned manufacturer of premium quality equipment."
Extec and Fintec have announced that following the acquisition of the two companies by the Sandvik, their sales and aftersales support operations will join forces to provide customers with a single, wider source of high quality, proven crushing and screening equipment. In addition to retaining two of the most experienced and respected names in the crushing and screening industry, the combined operation will operate via the existing sales force to provide the newly combined companies with a dynamic and aggressive strategy to meet the specific needs of the crushing and screening industries. Sales support and spare parts for both brands will be provided from Swadlincote and Ballygawley ensuring that customers have rapid, responsive and local access to spares and after sales service.