News Archive

LNG tank manufactured by Viafin West Welding Oy to Cryonorm

Viafin shows again its capability to customize LNG tanks as Viafin West Welding Oy delivers a LNG tank to Cryonorm for their marine fuel system on the state of the art dredger being built in the Netherlands.

This IMO C-type tank is engineered and manufactured according to IGF -code and it will be used as a fuel tank in the new dredger owned by Van Der Kamp. Before the manufacturing process, DNV-GL supervised and inspected the engineering work according to DNV-GL rules for classification. This delivery highlights the ability of Viafin to customize its products to customer needs.

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Viafin West Welding involved in renewable energy initialization project

Viafin West Welding is going to deliver two 700m3 LNG-tanks to the prime contractor Wärstilä. Wärtsilä offers a turnkey solution to Raahen Voima Oy for SSAB factory located in Raahe.

SSAB will get the liquified natural gas (LNG) tanks manufactured by Viafin West Welding Oy to their factory in Raahe. SSAB is currently taking part in the LNG-terminal project of Manga LNG Oy. Raahen Voima operating in the industrial area of Raahe, is going to replace some of its oil based fuels and SSAB is going to use natural gas instead of currently used propane to reduce emissions. Tanks delivered by Viafin Welding Oy are a vital part of this reform.

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Group of investors and Viafin’s management acquired Viafin Oy

The management of Viafin Oy together with a group of investors have acquired 20.8. full ownership of Viafin Oy. As result of the acquisition Viafin Group Oy now forms the new parent company of Viafin. The management consists of long-term key personnel in the Viafin Group, who have also previously acted as significant owners in the company. Minority investors are Finnish family companies. Private equity funds managed by Vaaka Partners Oy have sold all of their shares in the transaction.

”Viafin has shown considerable growth in the past few years and this acquisition gives Viafin great new options to continue its long-term business development. The market situation of our main customers, our competent personnel and the strong trust of our customers convinced the new owners of the competence and potential of the company. We see the market situation as very positive and areas of business where we operate enable great opportunities for strong organic growth. Management’s ownership together with successful family companies is an excellent combination of ownership for the continuing development of the company. Through the arrangement Viafin Group continues to strengthen its position in the main market areas of Scandinavia” – states the Viafin Group CEO Marko Sipola.

“Viafin has performed very well and been able to grow in a challenging economic situation. We are pleased that we have found a strong domestic owner for the company”, says Vaaka Parters Oy’s partner Ilkka Pentikäinen.

More information:

Marko Sipola, CEO, Viafin Group Oy, mob. +358 50 371 4663

Ilkka Pentikäinen, Partner, Vaaka Partners Oy, mob. +358 400 217 671 

Viafin Group is a process industry supplier and has specialized in the manufacture of pulp towers, pressure vessels and industrial piping assemblies. Viafin serves its customers in energy, pulp & paper and process industries. In addition to various offices in Finland, Viafin also has activities in Sweden and Estonia. The main offices in Finland are located in Lappeenranta, Teuva and Kurikka. The annual turnover of Viafin Group is approximately EUR 60 million and Viafin employs approximately 300 industry professionals.

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Vaaka Partners Ltd is a Finnish private equity firm focusing on small and lower midmarket buyouts. The combined turnover of the investments is approximately EUR 400 million and the total number of employees is about 3000. Examples of the current investments are Solita which is a provider of digital services, Ovenia which is a provider of real estate management services and Enegia which provides energy control services.

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