During the month of June, we were able to welcome Grönskär Gruppen AB as the main owner of International Aluminum Casting and at the same time thank our outgoing Chairman of the Board Folke Sandvik. IAC is now very well prepared to take the next step into the 100 year anniversary in 2022 and would like to thank the outgoing Chairman of the Board Folke Sandvik who has been a very strong contributor to the powerful growth that IAC has achieved since Folke Sandvik became the main owner in 2003.
The new owner of the position that Folke Sandvik sold will be Grönskär Gruppen AB, which is a smaller investment company that focuses on acquiring and long-term further development of well-established Swedish companies, preferably with a long history and long tradition. “ IAC is exactly the type of company we have been looking for for a long time. We look forward to being able to continue the exciting journey started by Folke and the rest of the ownership group together with staff and management. / Mattias Gadd, Chairman of the Board.
The company’s other operational owner management is still intact with CEO Dan Nilsson, Marketing Manager / Vice CEO Thomas Larsson, and Factory Manager IAC Gredby Mats Larsson.
In August, the IAC Group signed an acquisition of Tenhult Pressgjuteri AB in bankruptcy. The business was taken over from the bankruptcy estate as of August 9. The IAC Group’s strategy is to develop operations in existing premises in Tenhult. Tenhults Pressgjuteri is a high-quality foundry that fits well into the IAC Group’s operations.
The IAC Group currently consists of five production units. In addition to the newly added factory in Tenhult, there are production facilities in Eskilstuna, Hultsfred, Ankarsrum, Tartu in Estonia and Ulyanovsk in Russia. In addition to die casting in aluminium, magnesium and zinc, the IAC group also has mold casting, which preferably takes place in the form of cradle casting. IAC has foundry machines up to 2,750 tons of clamping force. In Hultsfred there is also a powder coating plant and in Tartu a Cleancenter for washing machine parts.