- Business
- Nordic Flanges Group AB (publ) (NFGAB.ST) manufactures and supplies industrial flanges and OEM components primarily in stainless steel, carbon steel, aluminum, duplex, super duplex, titanium and related materials; offers standard and custom flanges including welding necks, welding rings, loose flanges, blind flanges, slip-on flanges, socket welding flanges and threaded flanges; provides forging, gravity die casting, flame and plasma cutting, advanced CNC machining, welding, heat treatment, surface treatment, laboratory testing and subcontracting services according to customer drawings. The Sweden-based group, founded in 2005 as Vinovo AB and renamed in 2015 with headquarters in Stockholm, operates production facilities through subsidiaries Nordic Flanges AB in Örnsköldsvik Sweden (forged stainless steel products, founded 1977), Nordic Flanges Oy in Kronoby Finland (aluminum casting, founded 1957) and Ferral Components Oy in Kalajoki Finland (special steel components); maintains a sales office and warehouse in Chicago US and exports to over 40 countries across six continents targeting energy, oil and gas, offshore, process industry, marine, pulp and paper, chemical, water treatment and infrastructure sectors. Latest changes include a November 2023 restructuring of Nordic Flanges AB with staff reductions, premises adaptation and efficiency measures expected to save SEK 13 million annually for improved 2024 profitability; April 2024 rights issue of up to SEK 27 million fully guaranteed at 68% to strengthen balance sheet, fund working capital, automation investments and further restructuring with 10-15% organic net sales growth and 5-12% EBITDA margin targets over 3-5 years; ongoing shift to high-margin OEM sales now at 41% of revenue with US sales CAGR of 170% from 2021-2023 and total group revenue of SEK 273 million in 2023.