Aspo Group subsidiary Telko Ltd has agreed to acquire shares of Estonian company Mentum AS
27 October 2021 - 5:00PM
Aspo Group subsidiary Telko Ltd has agreed to acquire shares of
Estonian company Mentum AS
Aspo Plc Stock exchange release October 27, 2021, at 9 a.m.
Aspo Group subsidiary Telko Ltd has
agreed to acquire shares of Estonian company Mentum ASAspo
group subsidiary Telko Ltd has signed an agreement on the 26thof
October 2021, by which Telko Ltd will acquire shares of Estonian
company Mentum AS. Mentum is a strategic distribution partner in
Baltic countries. It operates in the premium lubricants business in
automotive, industrial and marine business. Mentum will complement
perfectly Telko’s lubricant business in the Baltic Sea region.
After the acquisition, Telko’s and Castrol’s cooperation, which has
started in 1958, will cover Finland, Scandinavia and the Baltic
countries.
The acquisition will increase Telko’s sales by 10 million euros.
The transaction will not significantly affect Telko's profitability
in 2022.
The acquisition is subject to the approval of the competition
authorities. The transaction is expected to close during 2021.
“Telko continues to develop its business according its strategy
in higher value-added products. This acquisition strengthens the
weight of our lubricant business in Telko's business portfolio”,
says Mikko Pasanen, CEO of Telko. Telko Ltd is an
international leading expert in and supplier of plastic raw
materials, industrial chemicals and lubricants. Telko’s operations
are based on representing the best international principals, the
expertise of personnel and long-standing customer relationships.
Company’s competitive advantage comes from technical support,
efficient logistics and local professional service. Telko operates
in 15 countries and has sales to more than 30 countries.
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Aspo is a conglomerate that owns and develops business
operations in Northern Europe and growth markets focusing on
demanding b-to-b customers. Our strong company brands - ESL
Shipping, Leipurin, Telko and Kauko - aim to be the market leaders
in their sectors. They are responsible for their own operations,
customer relationships and the development of these. Together they
generate Aspo's goodwill. Aspo's Group structure and business
operations are continually developed without any predefined
schedules.
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