FORCE Technology sells Swedish subsidiary
FORCE Technology has signed an agreement to sell its subsidiary FORCE Technology Sweden AB to Kiwa Inspecta AB. The divestment has no bearing on the Norwegian and Danish inspection and testing activities, where FORCE Technology maintains its strong position.
"We have chosen to sell our Swedish subsidiary, since this is the best future solution for the market and the employees in Sweden - and for the rest of our business," comments Øjvind Andersen Clement, CEO of FORCE Technology. "With the divestment FORCE Technology wants to focus our continued investments in our core activities. The Swedish inspection business had low synergy with the rest of the organization and was best served to be part of the ongoing market consolidation in Sweden."
The divestment will have no impact on FORCE Technology Norway AS, as FORCE Technology will remain active with inspection and testing in both Norway and Denmark, where there is a strong base and synergy to other core activities.
FORCE Technology also continues to serve the Swedish market with a wide range of other technological services and products out of Denmark and Norway, as well as locally in Sweden through the business areas air emission measurements and electronics testing (the latter under the DELTA brand), which are not part of the divestment.