Ferronordic appointed distributor for Mecalac backhoe loaders

Ferronordic Machines has entered into an agreement with Mecalac Construction Equipment UK Ltd (formerly Terex GB) to become the global equipment manufacturer’s official backhoe loader distributor for Russia.

Mecalac, based in France, is an international manufacturer of construction equipment. At the end of 2016, Mecalac purchased the business of Terex Corporation related to backhoe loaders, based in Coventry, UK. Mecalac is now in the process of rebranding the products from Terex to Mecalac. Ferronordic will market the products under the Mecalac brand from the beginning.

Ferronordic will start retailing Mecalac backhoe loaders during the fourth quarter of 2017.

Lars Corneliusson, CEO and President of Ferronordic, comments on the appointment: “Since the announcement that the production of Volvo backhoe loaders would be discontinued, we have evaluated alternative suppliers of backhoe loaders. Mecalac clearly offers the best alternative with products that are as qualitative and competitive as the ones we offered before. Going forward we can also offer backhoes with equal-size front- and back wheels, which gives us access to a market twice the size as before. I am very pleased that we have achieved this cooperation with Mecalac.”

Gregg Horne, managing director of Mecalac Construction Equipment UK Ltd, said about the appointment: “With the global construction market set to further expand, strengthening our reach in tactical geographies is a key corporate priority. With a strong national client base and acclaimed reputation, we are looking forward to working in close partnership with Ferronordic to mutually drive this growth”.

About Ferronordic

Ferronordic is the authorized dealer of Volvo Construction Equipment and Terex Trucks in Russia. It is also the official distributor of Dressta and Rottne in Russia. Ferronordic has also been appointed aftermarket dealer for Volvo and Renault Trucks as well as Volvo Penta in certain parts of Russia. The company began its operations in 2010 and has expanded rapidly across Russia. The company is well established in all federal districts with approximately 75 outlets and more than 800 employees. The vision of Ferronordic is to be regarded as the leading service- and sales company in the CIS markets. The preference shares of Ferronordic Machines AB are listed on Nasdaq First North Premier. The company has appointed Avanza Bank AB as its Certified Advisor.
www.ferronordic.com

For more information, please contact:

Anders Blomqvist, CFO and Head of IR, Tel: +46 8 5090 7280 or anders.blomqvist@ferronordic.com

This information is information that Ferronordic Machines AB (publ) is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication on 21 August 2017, 14:00 CET.