FINLAY BME and Sandvik AB have completed their joint-venture agreement with the Swedish firm’s acquisition of a 40% equity stake in the Northern Ireland-based engineering business.
Complementing the company’s existing core business of mobile block-making machines, the new partnership will allow Finlay BME to accelerate the development of range of mobile crushing and screening machinery specifically targeted at recycling and contracting and markets worldwide under the Fintec brand name.
Commenting on the deal, Hubert Watson, managing director of Finlay BME, said: ‘This strategic partnership allows us to extend our experience, gained over 50 years in mobile block-making machinery, into contracting and recycling applications which we have identified as offering significant potential for sustained growth globally.’
"Duncan McGregor, vice-president of marketing with Sandvik AB, added that Sandvik’s investment was ‘in line with the company’s strategy of developing its business through partnerships with established businesses in growth sectors’.
"Operating from their new 130,000m2 manufacturing facility in Ballygawley, Finlay BME will now be fully responsible for the design, manufacture and marketing of a completely new range of mobile crushing and screening machines. The company has already launched the Fintec 540 mobile screening plant, which has been successfully installed at operations in Ireland, England, France, Spain and the US, and development work is currently well advanced on the launch of the larger Fintec 570 screen.
In addition, Sandvik are currently building a completely new jaw crusher and feed unit for a Fintec mobile crushing unit, while Finlay BME are in turn designing and manufacturing a brand new tracked chassis unit for the new machine. Finlay BME say many of these new Fintec products will be unveiled for the first time at Hillhead 2003.