Levanto is strengthening its position in the Scandinavian countries by two acquisitions. First one, Scan-Diamant AS operating primarily in northern and mid-Norway with Røros as the headquarter. Since 1998 Levanto has had a 40 % ownership in the company, with an agreement to take over by 100% the time Mr Sivert Staverløkk, will retire, which will happen in end of 2014.
The second acquisition is the majority of the shares in Constec AS based in Oslo. The former family-owned company will remain represented through Mrs May-Britt Sande, the daughter of Mr Finn Sande. Mr Knut Bergersen will continue as the Managing Director with responsibility of all Levanto related businesses in Norway.
These company acquisitions will give Levanto Oy a stronger position in the stone and construction markets in Sweden, Norway, Finland and Denmark together. Co-operation with dealers in Denmark, Diatool ApS and in Russia, LDS will continue without changes.
The aim with the acquisitions is to increase sales in the Scandinavian countries and a mutual exchange of knowledge. Constec AS and its personnel have a solid expertise in sales of dry cutting wheels through dealers as well as to rental companies, which will be highly valuable to Levanto and the markets in Sweden and Finland. To Norway Levanto wants to take the knowledge of wet cutting and wire sawing including constraction industry as well as the stone industry.
We see these acquisitions as a major possibility to our mutual business interests in the Scandinavian countries.
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