Swedish HANZA to Acquire Fortaco Plant in Estonia, Poland and Finland

Swedish industrial company HANZA Group has agreed to acquire the steel processing and structural assembly divisions owned by Finnish Fortaco Group in Estonia, Poland and Finland. The deal will also affect the Fortaco plant in Narva, one of the largest industrial facilities in the region.

After the transaction is completed, the Narva production site will be integrated into HANZA's industrial network in Estonia. The company says this will expand capabilities in heavy engineering, welding, machining and complex assembly.

In total, HANZA will acquire five Fortaco production sites in three countries. This is expected to increase the company's workforce by approximately 1,300 employees and annual turnover by about €170 million.

HANZA considers the acquisition part of its development strategy until 2028. The company plans to strengthen its position in heavy industry and complex manufacturing projects.

For parent company Fortaco, selling the assembly and steel assets with a total value of up to €200 million is an opportunity to fully focus on producing cabins for special machinery and strengthen its balance sheet.

Estonia's Fortaco plant employs 452 people – nearly a third of all 1,300 employees moving under HANZA in this deal.

“This agreement is the most important milestone in our history. We are proud of the reputation as a reliable partner that we have built over the years. Together with HANZA, we see huge opportunities to develop an even stronger industrial platform in Narva and in Estonia as a whole. The combination of our knowledge, resources and competences will ensure sustainable growth for us in the future,” said Larisa Shabunova, Managing Director of Fortaco Estonia.

The transaction is expected to close in the fourth quarter of 2026 after obtaining necessary approvals. Until then, both companies will continue operations as usual.