19/03/2003
Swedish company buys into Ballygawley firm
A Swedish company has acquired a 40% equity in Ballygawley-based R&D company Finlay BME.
The investment will enable Finlay to develop an innovative range of new products for markets worldwide over the next three years.
This new partnership will also enable Finlay BME to accelerate the development of a range of mobile crushing and screening machinery to market worldwide under the brand name ‘Fintec’.
Commenting on the investment, Finlay BME Managing Director, Hubert Watson said: “This strategic partnership enables us to extend our experience gained over 50 years in mobile blockmaking machinery into contracting and recycling applications which we have identified as offering significant potential for sustained growth in the global market.
“By combining our skills with Sandvik’s technical resources we aim to offer our customers a one-stop-solution to their crushing and recycling needs and thereby create competitive advantage for the company and the Fintec brand."
Duncan McGregor, Vice President - Marketing, Sandvik AB said: “This investment is in line with our strategy of developing our business through partnerships with established businesses in growth sectors.
“We were impressed by Finlay BME’s track record and engineering capability in mobile plant which is becoming increasingly popular in the recycling and contractor market because it is regarded as being most cost-efficient for this market segment.”
Another important influence on Sandvik’s decision was Northern Ireland’s longstanding reputation in the design and development of screening equipment. Mr McGregor added: “By investing in Finlay BME we will be gaining access to a source of highly skilled people with a wealth of experience in the development of heavy duty machinery that operators worldwide are using successfully in the most exacting conditions.”
Finlay BME was formed in December 2001 when Hubert Watson acquired the business of Finlay Blockmaking Equipment Ltd in Ballygawley from Stephen Finlay.
(MB)
The investment will enable Finlay to develop an innovative range of new products for markets worldwide over the next three years.
This new partnership will also enable Finlay BME to accelerate the development of a range of mobile crushing and screening machinery to market worldwide under the brand name ‘Fintec’.
Commenting on the investment, Finlay BME Managing Director, Hubert Watson said: “This strategic partnership enables us to extend our experience gained over 50 years in mobile blockmaking machinery into contracting and recycling applications which we have identified as offering significant potential for sustained growth in the global market.
“By combining our skills with Sandvik’s technical resources we aim to offer our customers a one-stop-solution to their crushing and recycling needs and thereby create competitive advantage for the company and the Fintec brand."
Duncan McGregor, Vice President - Marketing, Sandvik AB said: “This investment is in line with our strategy of developing our business through partnerships with established businesses in growth sectors.
“We were impressed by Finlay BME’s track record and engineering capability in mobile plant which is becoming increasingly popular in the recycling and contractor market because it is regarded as being most cost-efficient for this market segment.”
Another important influence on Sandvik’s decision was Northern Ireland’s longstanding reputation in the design and development of screening equipment. Mr McGregor added: “By investing in Finlay BME we will be gaining access to a source of highly skilled people with a wealth of experience in the development of heavy duty machinery that operators worldwide are using successfully in the most exacting conditions.”
Finlay BME was formed in December 2001 when Hubert Watson acquired the business of Finlay Blockmaking Equipment Ltd in Ballygawley from Stephen Finlay.
(MB)
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