Approval of SFS’ Partnership Agreement with HECO

The competition authorities have approved the partnership agreement of SFS and HECO. Bringing together their complementary fastening solutions for structural timberwork will strengthen their respective market positions.

As part of the partnership agreement, SFS acquires a 30% interest in HECO (Ludwig Hettich GmbH & Co. KG) via a capital increase. The relevant competition authorities have approved the transaction that has been completed on 1st October. The proceeds from the share issue will be spent on projects to improve competitiveness and accelerate growth.

The two largely complementary product ranges will allow to serve customers better and thereby strengthen the market positions of SFS and HECO. Close collaboration will enable them to also take advantage of manufacturing synergies and strengthen their competitive profile. The partnership will have no negative effects on the employment levels at the various company sites.