Kalmar Industries has signed an agreement with Svets & Mekanogruppen AB for the sale of its steel component subsidiary Finmec.

Finmec, based in Maardu, Sweden, specialises in welding and providing steel components for heavy equipment.

Kalmar said the Finmec sale was part of the continuing implementation of its strategy to concentrate on marketing, development, assembly and servicing container and heavy materials handling equipment.

The 133 Finmec employees will retain their jobs and Finmec will become part of the Svets & Mekanogruppen group of companies.

Svets & Mekano-Gruppen i Vislanda AB consists of Svets & Mekano AB, Malmstens Verkstad AB, Ljungby Mekaniska AB and Vislanda Platslageri AB. It is a primary supplier of sheet metal and welding work in light, medium and heavy gauge sheeting as well as machining, combined with finishing and assembly.