Springer Group acquires FinScan
Feb. 27, 2018 - International technology supplier Springer Group has acquired a majority stake in Finnish company FinScan.
FinScan is a specialist in scanners and software for automated optimization of lumber in sawmills, having installed more than 400 scanners in over 20 countries around the world.
“With the majority stake in FinScan we extend our market product portfolio as an integrated technology provider for the wood-processing industry,” Springer chief executive officer Timo Springer said. “From now, we have an extensive range of optimization systems in the wood-processing industry at our disposal and that way, we can expand our technological and innovative leadership.
“We see good opportunities to grow and strengthen our position in the future together. We are looking forward to working together,” he said.
“FinScan is very successful, has long time customers and has a clear portfolio of sophisticated scanner solutions at its disposal,” FinScan chief executive officer Jyri Smagin said. “Through the merger with Springer we expect a further technological progress.”
Smagin will continue running the company at the same managing position.