CapMan creates engineering manufacturer in spinout

CapMan will be Fortaco's largest shareholder, holding a 66.5% stake, while Ruukki will hold 19% of the company's equity. The management team will include members of Komas's and Ruukki's current management.

Fortaco is expected to generate turnover of around €270m and will have approximately 2,600 employees.

Komas's units in Jyväskylä will continue to operate as an independent company owned by CapMan, who acquired 82% of the firm in 2007.

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