FläktGroup to streamline product offering
HERNE, Germany, October 30 – FläktGroup, one of the leaders in air technology (“FläktGroup”), has signed an agreement to divest its ducts, fittings and silencers portfolio in Europe to Veloduct AB, privately-owned by a Norwegian investment group ("buyer"). The buyer has a long-term vision for the business and intends to continue operations as they are, with a focus on strengthening the portfolio in the future. This transaction marks a further step in FläktGroup’s strategy to re-focus its product portfolio. Terms and conditions of the transaction which is planned to close by end of 2024 are not disclosed.
The transaction will be carried out as an asset transfer, where the buyer will take over FläktGroup’s production and logistics site in Järna (Sweden) as well as all relevant production equipment and inventories for ducts, fittings and silencers in Järna, Turku (Finland) and Warsaw (Poland). Additionally, the teams in Järna and Turku will transfer to the buyer as existing employees. Product IP and trademarks Veloduct, Ecoduct and Ekoduct will also be transferred to the buyer. Dampers, Variable Air Volume (VAV) dampers, and diffusers are not in the scope of the transaction. These products will remain a core part of the FläktGroup offering.
Following the completion of the transaction, FläktGroup will vacate the Järna site by end of January 2025. The plant in Warsaw is planned to be closed with all work positions related to production to be made redundant as a result. Planned timeline is to seize the operations in Warsaw during Q1/2025. FläktGroup’s sales and services operations in Poland will not be affected.
In a further step to re-focus the product offering FläktGroup is planning to discontinue residential air handling units (AHU) from its range with the last deliveries planned in December 2024.
FläktGroup’s strategic direction remains to improve operations and focus on pioneering products which make the biggest difference to customers and the planet.
About FläktGroup
FläktGroup, a leader in air technology, delivers best in class, innovative and energy-efficient solutions to ensure comfort, safety, and performance, whilst reducing customer's carbon footprint. FläktGroup's premier brands, have been setting technological standards for more than 100 years and can fulfil the most demanding customer requirements.
Headquartered in Germany, FläktGroup operates with more than 4,000 employees all over the world with production sites across Europe, Asia, and the USA.
As several statements above are currently under negotiation, please contact us for the latest updates before publishing: Alexandra Ashikhmina; Director of Communications and Marketing; Phone +44 780 5743 526; Alexandra.ashikhmina@flaktgroup.com