Rettig becomes major shareholder in Nordkalk
Rettig has signed a share purchase agreement with the co-owners of Nordkalk. As a consequence, Rettig’s ownership in Nordkalk has increased from 21% to 49%. The management of Nordkalk has sold 100% of its holding, while Ahlström Capital has sold two-thirds and the institutional investors one-third of their holdings respectively. “Rettig wants to be a long-term major owner in Nordkalk and use its best efforts to support Nordkalk’s management in developing the company on a stand-alone basis”, says Bjarne Mitts, President & CEO. “The increase in the ownership of Nordkalk is a big strategic step for Rettig. Nordkalk complements well our current ownership in the heating industry and shipping. I am very pleased to see Nordkalk’s growing importance to our operations”, comments Cyril von Rettig, Chairman of the Board. Rettig is a group of Finnish family owned companies focusing on three core business areas: Rettig ICC (hydronic and electrical heating, indoor climate regulation), Bore (shipping) and Tarkala (real-estate development and rental). The turnover in 2008 amounted to EUR 680 million and the number of personnel is 3,600. Nordkalk is the leading producer of high quality limestone-based products in Northern Europe. The products are used mainly in the paper, steel and building material industries as well as in environmental care and agriculture. The product brand is Nordkalk. The company’s net sales for 2008 totalled EUR 345 million. Nordkalk employs some 1,200 people and has operations at more than 30 locations e.g. in Finland, Sweden, Poland, Estonia and Russia.