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Dec 22, 2022 16:09 EEST
December 22 (SeeNews) - Sweden's Axel Johnson International said its unit Power Transmission Solutions has acquired Slovenian distributor of bearings, mechanical power transmission technology and sealings Tinex to strengthen its position in the Slovenian market and the wider region.
“The addition of Tinex is well in line with our business group strategy of geographical expansion. Tinex is a great strategic fit [...] We also see many possibilities for synergies between Tinex and other companies within our group,” the managing director of Power Rransmission Solutions unit, Ola Sjolin, said in a press release published by Axel Johnson International earlier this month.
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The value of the deal was not disclosed.
Tinex has been operating since 1990. It is based in Senciur, central Slovenia. Tinex’s product offering is centred around bearings, sealings and linear motion products but also includes transmissions, lifting clamps, pneumatics, lubrication, tools, and specialty fasteners.
Axel Johnson International is a global industrial group of 170 companies in 30 countries, part of the Swedish family-owned group Axel Johnson.
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