Axel Johnson International has formed a new, SEK 2.1 billion business group named Power Transmission Solutions. The new business group will focus exclusively on the power transmission market and be composed of companies active in bearings and industrial transmissions.
“Power Transmissions will operate with a focused investment theme and continue to explore the growth opportunities within its market segment,” says Martin Malmvik, CEO, Axel Johnson International. “This is in line with our strategy of building and creating the best platforms for our companies to develop successfully through continuous organic growth as well as through acquisitions.”
Power Transmissions will consist of the companies within bearings and industrial transmissions including Sverull, Nomo, Acorn, Jens S, Spruit, SKS, MAK, Passerotti and Arkov. Ola Sjölin has been appointed Managing Director of the new Power Transmission Solutions business group effective January 1, leaving his previous position as Managing Director of the Industrial Solutions business group.
“This is a natural step for the Power Transmissions platform, following its rapid growth in recent years,” says Ola Sjölin “It will allow us to increase our efforts to grow and develop this part of the business.”
Industrial Solutions will continue with its other companies, Trans-Auto group, IOW, MIT, ATZ, GISAB and newly acquired OCS. Martin Malmvik CEO of Axel Johnson International will add the role of Managing Director of the Industrial Solutions business group to his current responsibilities.
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