Nordec as a company
Nordec Group Corporation is a Finnish limited liability company with headquarters in Helsinki, Finland. Nordec has offices and production facilities in Alavus, Peräseinäjoki and Ylivieska, Finland, Gargždai, Lithuania, and Oborniki, Poland, as well as offices in Helsinki, Pietarsaari, Turku and Vaasa, Finland, Stockholm and Öjebyn, Sweden, and Brno and Prague, the Czech Republic.
Nordec in its current form is based on the company’s acquisition of Normek Oy (“Normek”) (the current Nordec Envelope Oy) in 2019 and the acquisition of Ruukki Building Systems Oy (“Ruukki Building Systems”) (the current Nordec Oy) in 2020.
The history of Nordec dates back to 1979, when Normek, a Finnish company focusing on steel structures, was founded. In 1971, Pohjoismainen Putki-ja Tehdashuolto Oy (later PPTH Teräs Oy) that began offering similar services was founded. In 1990, PPTH Teräs Oy was jointly acquired by YIT and Rautaruukki Oyj (“Rautaruukki”) and its name was changed to PPTH Norden Oy (“PPTH Norden”). In 1999, CapMan Capital Management Oy (“CapMan”) and PPTH Norden’s management together acquired 59 percent of the shares in PPTH Norden. Rautaruukki and YIT remained as owners with 22 percent and 19 percent of the shares, respectively. Later YIT sold all its remaining shares to CapMan and PPTH Norden’s management. In 2005, Rautaruukki acquired all the shares from PPTH Norden’s management and CapMan. PPTH Norden was thereafter merged into Rautaruukki as part of its construction division.
In 2011, Rautaruukki’s construction division business was transferred into a newly established independent company, Ruukki Construction Oy (“Ruukki Construction”). In 2019, Ruukki Construction’s building project related businesses, comprising the supply of frames and envelopes for buildings as well as bridge structures, was separated bya partial demerger into an independent company, Ruukki Building Systems. The German publicly listed private equity holding company Mutares acquired Normek in 2019 and Ruukki Building Systems in 2020 through Donges Teräs Oy (“Donges Teräs”) (later Nordec Group Oy), the subsidiary of its fully owned subsidiary, Donges SteelTec GmbH.