Ovako completes divestment of Ovako Metals Oy Ab – strengthening customer offering in Finland
Ovako has received approval from the Finnish competition authorities for the divestment of Ovako Metals Oy Ab, its distribution entity in Finland, to Tibnor, a subsidiary of SSAB. The transaction is expected to be completed in the coming weeks.
With the completion of the transaction, Tibnor will take over Ovako Metals’ distribution operations in Finland, including its product portfolio, logistics and warehousing activities, processing services and local sales organization. For customers, this means continued access to high‑quality products combined with an even broader offering and enhanced service capabilities through Tibnor’s strong Nordic and Baltic distribution network.
“This is a positive next step for our customers in Finland,” says Marcus Hedblom, President and CEO of Ovako. “Through Tibnor, customers will benefit from a strengthened distribution setup with greater scale, an expanded product range and strong local presence. We are confident that this will create long‑term benefits and continue to deliver great value to our customers.”
The divestment is in line with Ovako’s strategy to focus on its core business as a leading producer of engineering steel, while ensuring that distribution activities in Finland continue to develop under an owner with distribution as its core competence.
“We are very proud of what Ovako Metals has achieved over the years,” Marcus Hedblom continues. “I would especially like to thank our colleagues in Ovako Metals for their commitment, expertise and dedication. We wish all employees who are now joining Tibnor every success in the future and are confident they will continue to deliver great value to customers.”
Ovako and Tibnor have a long‑standing relationship, and the transaction marks a natural next step that supports both companies’ strategic priorities while ensuring continuity for customers and employees alike.