SWEDEN - Sixth Swedish pension fund buys Arvika from administration

Arvika Gjuteri is headquartered in Arvika in Sweden and employs 375 people. The business 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. The business dates back to 1970, and was in 2008 acquired by Sakthi Automotive Group.

Arvika's 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, and a restructuring process was initiated in December last year.

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• Buyouts
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