Cargotec and JCE Invest team up on dry bulk handling joint venture

The Bruks Siwertell Group has been established following the signing of a joint venture between bulk materials handling specialists JCE Invest and Cargotec.

Siwertell and Bruks Holding will both be owned by the joint venture. Cargotec will own 48% of the shares in Bruks Siwertell Group while JCE Invest will own the remaining 52%.

"Together Bruks and Siwertell will have a strong position in the dry bulk handling industry and attractive growth opportunities in new markets and customer segments including biomass, bioenergy and biofuels industries,” said Peter Jonsson, CEO of Bruks.

“This cooperation will add customers, competence, additional knowledge, capabilities and products to support the future growth of the new company.”

Per Karlsson, managing director of Siwertell, said: "This is a true partnership between two strong brands, Siwertell and Bruks, as they complement each other very well both in terms of product portfolio and market coverage.

Karlsson continued: “Siwertell will benefit from Bruks's strong position in the US market whereas Bruks will gain access to Siwertell's Asian network, knowledge and exposure. Together we will be a full line supplier for almost all types of bulk materials."