Two Swedish companies that have had a business relationship for 15 years, announced that they have entered a joint ownership agreement. Under the terms, Axjo Plastics AB, a packaging supplier that specializes in reels, gets a 24% interest in Windak AB, an equipment manufacturer founded in 1994.
"For Windak and for our customers, there are great benefits of closer cooperation,” said Windak AB partner and CEO Urban Bollö. “For example, we can construct concepts that reduce shipping costs for the coils properly by mounting the coils directly in the Windak machine. Axjo also has a good sales staff who can reach out, be more present with the customers and inform about all the new technical possibilities Windak has to offer."
The acquisition is in Windak Holding AB and its sister companies: Windak AB, Windak Inc, Windak Australia and Windak OU in Estonia. Windak has its headquarters in Järfälla, outside of Stockholm, and has some 67 employees in Sweden, Estonia and the United States. The company has an approximate turnover of US$11.8 million. Axjo Plastic, founded in 1945, manufactures and sells cable drums and other round packaging for cable, fiber and other string products. It is based in Gislaved, and its group has about 110 employees, and annual sales of US$1 million. Axjo and Windak have cooperated with each other, including exhibiting together at trade shows.
"After working with Windak since 2003, it's extra fun to integrate our business more,” said Axjo Plastic CEO/owner Jacob Nilsson. “There will be great advantages for our customers that the machines, already at the design table, are adapted to the correct cable drums.” He added that the company now also has a plan where customers can rent the machines instead of buying them.