Boreo is simplifying its organizational structure by merging its current Technical Trade and Heavy Equipment business areas into a single Technical Trade business area, effective January 1, 2024. The new organizational structure aligns more closely with Boreo’s strategy, which focuses on acquiring profitable companies with high capital returns for long-term ownership. As a result of this consolidation, an agreement has been reached to terminate the employment relationship with Janne Silvennoinen, Director of Boreo’s Technical Trade business area and CEO of Machinery.
As part of this change, Machinery Oy’s metalworking business will be divested into a separate company. The entire personnel of the current metalworking business will transition to the new company, which will continue its operations at the Pirkkala facility opened last year. Silja Frigård, the current business area director of Machinery’s metalworking business, will assume the role of CEO for the new company. Machinery’s power transmission and construction sectors will continue their operations at the current Ansatie facility in Vantaa. After the spin-off, the CEO of Machinery Oy will be Juha-Pekka Honkanen, the current business area director of the power transmission business. The spin-off is expected to be completed in the first half of 2024, and until then, the interim CEO of Machinery Oy will be Aku Rumpunen, Boreo’s CFO.
“With the future companies focusing on serving their respective customer bases, we will be able to provide even more skilled services that address the specific needs of our customers. With this change, the separated businesses will also be more agile in responding to the constantly evolving market demands,” commented Silja Frigård on the upcoming change.
The commencement of operations for the new business entity will be announced separately.
