Ovako signs agreement to sell Ovako Metals Oy Ab to Tibnor

Ovako Metals Oy Ab, based in Tampere, provides stocking, processing, and distribution services for steel and other metals to engineering, process, and construction industries. The company employs approximately 40 people and reported net sales of EUR 40 million in 2024. 

Ovako acquired Ovako Metals Oy Ab in 2015, and over the past decade, the company has played an important role in strengthening Ovako’s presence in Finland and serving customers in Finland and the Baltics with high-quality steel and metals. This successful journey reflects the dedication of the Ovako Metals team and the strong collaboration with our customers. 

“This step reflects our strategy to focus on our core business while ensuring that customers in Finland continue to benefit from a stronger offering under Tibnor’s leadership,” says Marcus Hedblom, President & CEO of Ovako. “We are proud of what Ovako Metals has achieved during these years and confident that Tibnor will build on this success.” 

“This acquisition strengthens Tibnor’s position as a full-range distributor in Finland and deepens our partnership with Ovako,” says Fredrik Haglund, CEO of Tibnor. “It aligns with our growth strategy and enables us to offer a broader product portfolio to our customers.” 

The acquisition is subject to regulatory competition approval in Finland, and the preliminary timetable of completion is expected during the first quarter of 2026 and is therefore dependent on this process. 

At Ovako, we specialize in clean, high quality engineering steel tailored to the needs of customers in the bearing, transport, and manufacturing sectors. Our high-quality steel, based on 97% recycled steel, not only ensures lightweight and resilient products but also enables more sustainable and environmentally friendly solutions. With 2600 dedicated employees and a global presence spanning over 30 countries, along with approximately EUR 1.1 billion in sales, Ovako, a subsidiary of Sanyo Special Steel and a proud member of Nippon Steel Corporation, stands at the forefront of the steel industry. Our purpose is clear: Together we create steel for a decarbonized society. Discover more about our innovative solutions at www.ovako.com, www.sanyo-steel.co.jp, and www.nipponsteel.com