Miilux OY, an OYAK company, has acquired Häggblom, a company owned by the globally renowned mining technology leader Metso, which manufactures buckets, wear parts and dump bodies for mining equipment in Finland and Sweden, and provides on-site services at mining fields.
The agreement covers dump bodies, buckets, as well as after-sales and service operations for the mining and heavy industry sectors.
As part of the acquisition, production facilities in Finland and Sweden, along with approximately 100 employees, have joined Miilux OY. This step significantly strengthens Miilux OY’s production and service capacity in Europe, while enabling closer and faster service delivery, particularly to major mining companies in Sweden.
Having reached full capacity in armor steel and wear-resistant steel production, Miilux OY Finland aims to utilize Häggblom’s idle capacity through this acquisition, targeting higher production volumes and improved profitability. Completed under favorable cost conditions, the transaction positions Miilux OY as a strong and leading player in the European market within its field.
Erdinç Kocayanak, Chairman of the Board of Miilux OY, commented on the acquisition as follows:
“Our Finland facilities, which have reached capacity limits in armor steel, wear-resistant steel and component production, have gained the opportunity to effectively utilize Häggblom’s existing idle capacity in Finland and Sweden through this investment. By providing closer service support to large-scale mining companies, particularly in Sweden, we aim to achieve higher production and profitability levels. The fact that the acquisition was completed at a valuation significantly below previously offered levels has provided Miilux OY Finland with an optimal cost advantage, positioning our company as a strong and leading player in its market.”
Through this strategic move, Miilux OY aims to expand its product and service portfolio, deliver more comprehensive and value-added solutions to its customers in the mining and heavy industry sectors, strengthen its leadership position in the market, and generate long-term value for OYAK members through this investment.
