Ferroimport´s railway technology transfers to Algol Group

Algol Technics Oy has purchased the railway technology operations of Helsinki
company Ferroimport Oy. The operations will be combined with Algol Technics´
Railway Technology Team, which is specialised in supplying systems and
components for rail transport. The acquisition takes effect from the beginning
of November 2004.

The new operations expand the range of the Railway Technology Team with new
products such as train door systems, rails and bumpers. Product Manager joining
the team will be Mikko Ahola, who transfers from Ferroimport.

The Algol Group has a long tradition in technical solutions for railways. Since
1922, co-operation with German company Knorr-Bremse AG has supplied Finland´s
railways with brake systems covering the span from steam locomotives to modern
high-speed trains (News & Events/News Archive 14.6.2002). Sales Manager for the
Railway Technology Team is Mikael Karlsson.

Ferroimport Oy was founded in 2994 as an agency with total annual sales of
around 4 million euros. The company will focus now on its other main activity,
sales of steel products.

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