The companies – HECO and SFS – are both active in the structural timberwork market and have a reputation for top quality and innovative products. Bringing together their largely complementary product ranges will allow them to serve their customers better and thereby strengthen their respective market positions. Close collaboration will also enable them to take advantage of manufacturing synergies and strengthen their competitive profile.
On behalf of the agreed partnership it is intended to concentrate the development and production of the fastening for the structural timberwork at HECO. In return SFS aquires a 30 % interest in HECO via a capital increase. The proceeds from the share issue will be spent on projects to improve competitiveness and accelerate growth.
The SFS Group AG, located in Heerbrugg (Switzerland), is organised in three business segments, Engineered Components, Fastening Systems and Distribution & Logistics. In the Fastening Systems segment, consisting of the Construction and the Riveting divisions, SFS develops, manufactures and markets application-specific mechanical fastening systems under the SFSintec (Construction) and GESIPA (Riveting) brands. SFS Group is a global player with manufacturing sites and distribution companies at 72 locations in 24 countries around the world. Sales in business year 2014 amounted to CHF 1,383 bn and the work force numbered approximately 8.300.
The partnership increases HECO’s competitiveness and also guarantees a healthy development for the future. Furthermore strong impulses for innovation and growth potentials are expected.
Customers will benefit from this cooperation gaining more efficiency in innovations and a substantial increase of the product range.
A change of sales strategies is not expected.