Freightcar Components International Oy buys the entire share capital of Joptek Oy Composites in a purchase of shares on 21 November 2012. Freightcar Components International Oy (FCCI Oy) is a Finnish company, established in 2012.
The company develops new business activities, primarily to do with the manufacture of components for railway rolling stock, together with its international partners. One of FCCI Oy’s key partners is the Russian company, Vagonmash Ltd.
Russia and the CIS countries invest heavily in the development of passenger traffic, both on land and at sea. This provides an interesting market potential. The CIS consists of Azerbaijan, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan and Uzbekistan.
Joptek has begun to deliver toilet modules for the Russian market. At the present time, a delivery of toilet modules for 200 railway cars is being worked on.
It is believed that Joptek’s products will find an even larger customer base in the railway and marine industry. As a consequence of this corporate acquisition, Joptek’s access to the Russian and CIS markets is better guaranteed.
"This acquisition indicates that a demand for Finnish expertise exists on a global scale. Joptek’s familiarity with the Russian market has also been noticed by European train manufacturers. We believe that this acquisition will establish our position among European train manufacturers, as well," says Aku Lampola, Managing Director of Joptek.
"The size of the company and the fact that it is well-known, along with its ability to command a market that is unknown to us, is significant when looking for new clients among the railway and shipbuilding industry in Russia and the CIS countries. By intensifying cooperation, we can participate in shaping the future," says Lampola.