We are pleased to start the new year with Vexve as our owner. Our companies are an excellent match in terms of culture, values, products, and markets. Based on the impressive growth that Vexve has demonstrated over recent years, we are confident that this partnership is the right step for us.
For some time, we have aspired to take the next step in strengthening the company, which required resources beyond what we could achieve on our own. In this regard, finding a partner like Vexve, who aligns so well with us, is an optimal solution.
The company's activities and production will be maintained as Frese possesses strong competencies. This expertise has been the foundation of our strong growth, which Vexve also wishes to continue.
It is important for us to highlight our employees, many of whom have been with us for many years. There is no doubt that their skills and dedication have been key factors in making us an attractive partner for Vexve.
Vexve employs around 700 people at its factories in Finland, Germany, the Czech Republic, and China, and generated an annual turnover of nearly DKK 1 billion in the last financial year.
Frese Metal & Steel Foundry A/S, a subsidiary of Frese A/S, is not part of the transaction with Vexve and will remain under the ownership of the Frese family, continuing with its established leadership.
