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AP6 acquires bankrupt manufacturing firm Arvika Gjuteri

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The Sixth Swedish Pension Fund has acquired Arvika Gjuteri, a manufacturer of parts for trucks, agricultural and construction equipment, which recently went into administration. With history dating back to 1970, the business had been acquired by Sakthi Automotive Group in 2008.

Arvika Gjuteri produces core intensive castings for the automotive industry, including truck and off-highway vehicle manufacturers. Its clients include Scania, Volvo Powertrain, ArvinMeritor, Volvo CE, JC Bamford, Hiab and Volvo 3P. Its normal capacity for production is 28,000 tonnes, of which 78% is SG iron and 22% grey iron. In 2006, the company produced 27,933 tonnes in total. However, following the economic downturn, Arvika has seen a drastic drop in demand, with a restructuring process initiated in December last year. Today, the company employs 150 people.

AP6 believes Arvika's recent problems are temporary, and as the market turns, demand for its products should again increase. The new owner considers Swedish manufacturing to be a sound industry and believes Arvika Gjuteri has the potential to grow further. As a first move, AP6 will appoint a new management team from its industrial network. CEO of AP6 Erling Gustafsson worked on the deal.

AP6 Accumulates mobile services firm

AP6 also completed a venture investment this month, backing Accumulate, a technology provider of connected mobile solutions. The company has developed two mobile services platforms: Flexion, which provides flexible licensing of mobile content; and Mobile Everywhere, enabling secure mobile transactions. Founded in 2004, the business has offices in Stockholm and London and to date has delivered its applications to six million end-users. Flexion is run by Accumulate's subsidiary in the UK.

The recent capital injection will fund further product development, as well as increased marketing efforts including expansion into new markets. Stefan Hulberg is the CEO of Accumulate.