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Latest news: Scandinavians join forces: Lundhs acquires 40% of Palin Granit

Left: Thor-Anders Lundh Håkestad (CEO of Lundhs), right: Heikki Palin (CEO of Palin Granit). Photo: Marius Lundh Håkestad

(November 2013) Stone companies Lundhs and Palin Granit have agreed on a long-term partnership. As of January 1st 2014, Norwegian Lundhs will assume responsibility for marketing and sales of Finnish Palin Granit’s products. In addition, Lundhs will acquire 40 percent of the shares in Palin. „Together we will become the largest producer and distributor of rough granite blocks in Northern Europe“ a press release by Lundhs informs.

Lundhs, established in 1962 with 140 employees today, is the leading producer of granite rough blocks in Norway. Production volume per year is 50,000 m³.

Palin Granit is the leading producer of granite rough blocks in Finland. The company, established in 1921, now has a staff of 110 employees. Its production volume per year is 48,000 m³.

„This acquisition and collaboration will strengthen our position as a manufacturer and distributor of Nordic granite“, the press release continues.

Palin still has the responsibility for its production, and will facilitate sales of the new partners to customers in Finland, Russia, Baltic countries, Poland and Germany. Lundhs will take care of the marketing and sales of Palin’s products to all other markets. The Norwegians have strong activities in Asia, as Stone-Ideas.com had reported.

„In collaboration we can develop even more effective production methods in the quarries, and strengthen the sales and marketing activities. The international market we are a part of is large. By working together, we are better equipped to deal with the increasing competition from numerous of other natural stone materials, artificial stone and ceramics”, says CEO of Lundhs, Thor-Anders Lundh Håkestad.

„I am very pleased that we are entering into cooperation with Lundhs. As solid family companies, we have the same operating methods and values, as well as long traditions in quarrying natural stone. In addition, our product lines complement one another brilliantly. Lundhs’ stones mainly come in shades of blue, whereas our materials are mostly brown or red,” says CEO of Palin, Heikki Palin.

Lundhs’ most popular products are Lundhs Emerald and Lundhs Blue.

Palin Granit’s most important products are Baltic Brown, Karelia Red and Carmen Red.

Lundhs

Palin

(29.11.2013, USA: 11.29.2013)