Investment Agency acted as a sell-side advisor in the sale of AS Remeksi Keskus to the Lithuanian company AXIOMA LT UAB.
Remeksi Keskus was established in 1994 on the basis of the former fertilizer plant. The company has a long experience in the manufacture of metal products for chemical, pulp and mining sectors.
Some of Remeksi Keskus major projects:
a) 3 Petroter factories ordered by VKG Group
b) Bensoflex production factory ordered by Velsicol Chemical Corporation
c) The flow line and equipment ordered by Stora Enso, one of the largest forest industry companies in the world
Investment Agency board member Illar Kaasik told that with this transaction AXIOMA LT UAB acquired additional capacity to produce more complex industrial equipment and structures in the field of mechanical engineering.
AXIOMA LT UAB, which is part of the Axis Industries Group, is engaged in the production and installation of various metal products for industrial and energy sectors. Axis Industries already operates in Estonia, currently building new Väo heat and electricity co-generation station, which will work on renewable fuels.
The acquisition of AS Remeksi Keskus is not the first of its kind for Axis Industries - last year the group acquired 100% of ЗАО «Veikmės statyba", engaged in construction of residential and office buildings. Axis Industries Group, in turn, belongs to ICOR Group, which comprises about 70 companies, with a combined number of staff around 6800 people. ICOR Group companies are located in 40 countries and operate in four main areas: utilities, industry and energy, real estate, and oil products.
Based on the above it can be stated that AS Remeksi Keskus now has strong new owners who are capable to develop its business further.
Investment Agency OÜ analyst