JCE Group and Cargotec merge BRUKS and Siwertell to establish a dry bulk handling joint venture
JCE Group and Cargotec, listed on the Nasdaq Helsinki stock exchange, have established a joint venture, BRUKS Siwertell Group, specialised in dry bulk handling by way of merging the businesses of BRUKS and Siwertell. JCE Invest will be the majority owner holding 52% of the shares in BRUKS Siwertell Group. Cargotec will own the remaining 48% of the shares.
JCE Invest has contributed its shares in BRUKS Holding AB and Cargotec has contributed its shares in Siwertell AB to the BRUKS Siwertell Group. BRUKS has a strong position within the dry bulk handling industry, focusing on equipment supply for the bulk materials handling industries and mechanical-engineering solutions, particularly on the US market. Siwertell is also very well-positioned within the dry bulk handling industry, with a focus on ship unloaders, road-mobile unloaders, port-mobile unloaders, ship loaders, mechanical and pneumatic conveying systems, as well as bulk terminal solutions, particularly in Asia.
JCE Group was advised by Mannheimer Swartling in the transaction.