Cibes Lift Group acquires a new subsidiary

Cibes Lift Group acquires a Finish lift distributor, Hissipörssi. The acquisition is part of the Group's efforts to strengthen its position as the leading supplier of screw-driven lifts in Europe.

Hissipörssi will become our new subsidiary in Finland and the Finnish retailer of Cibes Lift products and services.

- With the acquisition of Hissipörssi, we broaden the availability of the brand while strengthening our competitive presence in the Finish market. The acquisition accelerates the Group's growth potential and gives us a stronger position as a leading supplier of screw driven lifts for the construction sector, the public sector and private properties, says Mats Engblom, CEO Cibes Lift Group.

- After 17 years in the industry, we have an extensive experience in platform lifts and their installation processes, which constitute an asset as we continue to grow, says Matti Jyrkinen, CEO Hissipörssi.

By acquiring a new subsidiary in Finland our customers will get access to a customer-focused technical support, installation services will also be strengthen thanks to Hissipörssis wide service network, Cibes Lift will consequently provide a comprehensive and improved offer to its customers in Finland.

Hissipörssi was founded in 1996 and has since rapidly developed its business as a supplier of platform lifts in Finland. The transition to our new partner in Finland will be done smoothly thanks to Hissipörssis previous experience.

New Product Development Manager

Cibes Lift Group (CLG) strengthens its organization with a new Product Development Manager at Trygve Niemi. Recruitment is in line with CLG's goal to further strengthen its efforts in product development on the lift market.

Trygve has a long and broad experience from design and development work in the manufacturing industry. He also brings many years of experience in the industry and is well equipped to take on the role.

Lars Kronberg, Chief Operating Officer Cibes Lift Group commented:
"- Innovations and quality assurance within the development sector plays a very important role in our continued growth. As Development Manager Trygve will play a very important role in this work. CLG will continue to strengthen our organization and its position as the undisputed supplier of lift solutions to private and public construction projects. "