Algol Technics and Terex celebrate 60 years of cooperation


Algol Technics has been the official Finnish importer and distributor of Demag cranes and material handling equipment since 1956. Demag has been part of US-based Terex Corporation since 2011.

“Algol was selected by Demag to be its partner in Finland based on the fact that we had good relations with industrial companies in both Finland and Germany. In the early years of cooperation we supplied mostly cranes to the engineering industry. Finland was experiencing rapid economic growth, and a lot of investments were being made in new factories and machinery,” remembers Magnus Bargum, former CEO of Algol and current Member of the Board.

 What is the recipe for such effective and long-term cooperation?

 “Our partnership is based on mutual trust, which is a prerequisite for good business relations. High-quality products and continuous product development have enabled financial success from one decade to the next,” says Aimo Leppinen, Business Unit Director at Algol Technics.

According to Algol Group CEO Alexander Bargum, changes in the ownership of Demag that take effect in 2017 should have no impact on the continuation of cooperation between the two companies.

“We hope and expect our cooperation to continue to develop in a positive direction after Demag becomes part of Konecranes. The change means that Algol and Konecranes will become both competitors and partners, but there is every reason to believe that this arrangement will be fruitful for both parties,” Alexander Bargum says.

“Demag has previously gone through ownership changes without affecting its partnership with Algol Technics. Demag has always been very good at supporting its local networks. The stability of Algol in turn has ensured that ownership changes and changes in terms of competition have not impacted negatively on our cooperation,” Magnus Bargum adds.

Demag has already informed Algol Technics that cooperation will continue as before under the new ownership.

Close cooperation with Demag, Dematic and other leading material handling companies has made Algol Technics a recognised expert in technical products and projects involving the installation and modernisation of production lines, as well as in increasing the degree of automation by means of robotics and state-of-the-art material handling technology.

 “We have created a service organisation with expert knowledge about the technical solutions offered by different manufacturers. In addition to product sales, we are also focusing on providing technical project planning and maintenance services throughout Finland,” says Martin Evers, Managing Director of Algol Technics.