{"id":45592,"date":"2020-10-14T09:39:21","date_gmt":"2020-10-14T01:39:21","guid":{"rendered":"http:\/\/www.interlubric.com\/?p=45592"},"modified":"2020-10-14T09:39:21","modified_gmt":"2020-10-14T01:39:21","slug":"aspo-subsidiary-telko-strengthens-position-in-nordic","status":"publish","type":"post","link":"https:\/\/origin.interlubric.com\/en\/aspo-subsidiary-telko-strengthens-position-in-nordic.html","title":{"rendered":"Aspo subsidiary Telko strengthens position in Nordic lubricants market"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column width=&#8221;1\/6&#8243;][vc_column_text][\/vc_column_text][\/vc_column][vc_column width=&#8221;2\/3&#8243;][vc_single_image image=&#8221;45593&#8243; img_size=&#8221;full&#8221; alignment=&#8221;center&#8221;][vc_column_text]Telko Ltd, part of the Aspo Group, has acquired Swedish ILS Nordic AB and its subsidiary Autolubes Nordic AB. ILS Nordic is a strategic lubricants distribution partner of BP Castrol in Sweden and Norway. Telko has been a distributor of Castrol products in Finland since 1958.[\/vc_column_text][vc_column_text]ILS Nordic serves the Swedish industry, and Autolubes Nordic distributes automotive oils in Sweden and Norway.[\/vc_column_text][vc_column_text]The acquisition will increase Telko\u2019s net sales in 2021 by approximately EUR10 million (USD) and will improve Telko\u2019s relative profitability. As a result of the acquisition, the Nordic countries\u2019 share of Telko\u2019s net sales will increase to approximately 40%.[\/vc_column_text][vc_column_text]\u201cThe acquisition accelerates Telko\u2019s strategic change. Telko has consistently freed up working capital from low-margin and slow-moving businesses, and focused them on more profitable and more capital-efficient businesses\u201d, said Aki Ojanen, CEO of Aspo Group and chairman of Telko\u2019s Board of Directors.[\/vc_column_text][vc_column_text]\u201cOver the past five years, Telko has been actively growing its lubricants business in the Nordic countries. The acquisition announced today brings strong synergies and is a significant step in the growth of Telko\u2019s business and emergence as a leading player in the Nordic lubricants market\u201d, said Mikko Pasanen, managing director of Telko.[\/vc_column_text][vc_column_text]The lubricant business will become Telko\u2019s third major business area alongside plastics and industrial chemicals. Telko has previously reported the lubricants business as part of the chemicals business, but in the future the figures for the automotive chemicals and lubricants business will be reported as their own entity.[\/vc_column_text][vc_column_text]<\/p>\n<h5>About Aspo<\/h5>\n<p>[\/vc_column_text][vc_column_text]Aspo is a conglomerate that owns and develops business operations in the Northern Europe and growth markets focusing on demanding B2B customers. Aspo\u2019s strong company brands \u2013 ESL Shipping, Leipurin, Telko and Kauko \u2013 aim to be the market leaders in their sectors. They are responsible for their own operations, customer relationships, and the development of these. Together they generate Aspo\u2019s goodwill. Aspo\u2019s Group structure and business operations are continually developed without any predefined schedules.[\/vc_column_text][vc_column_text]source\uff1aF\uff06L[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/6&#8243;][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column width=&#8221;1\/6&#8243;][vc_column_text][\/vc_column_text][\/vc_column][vc_column width=&#8221;2\/3&#8243;][vc_single_image image=&#8221;45593&#8243; img_size=&#8221;full&#8221; alignment=&#8221;center&#8221;][vc_column_text]Telko Ltd, part of the Aspo Group, has acquired Swedish ILS Nordic AB and its subsidiary Autolubes Nordic AB. ILS Nordic is a strategic lubricants distribution partner of BP Castrol in Sweden and Norway. Telko has been a distributor of Castrol products in Finland since 1958.[\/vc_column_text][vc_column_text]ILS Nordic serves the Swedish&hellip;<\/p>\n","protected":false},"author":5,"featured_media":45526,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-45592","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-trends","category-6","description-off"],"_links":{"self":[{"href":"https:\/\/origin.interlubric.com\/en\/wp-json\/wp\/v2\/posts\/45592","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/origin.interlubric.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/origin.interlubric.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/origin.interlubric.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/origin.interlubric.com\/en\/wp-json\/wp\/v2\/comments?post=45592"}],"version-history":[{"count":0,"href":"https:\/\/origin.interlubric.com\/en\/wp-json\/wp\/v2\/posts\/45592\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/origin.interlubric.com\/en\/wp-json\/wp\/v2\/media\/45526"}],"wp:attachment":[{"href":"https:\/\/origin.interlubric.com\/en\/wp-json\/wp\/v2\/media?parent=45592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/origin.interlubric.com\/en\/wp-json\/wp\/v2\/categories?post=45592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/origin.interlubric.com\/en\/wp-json\/wp\/v2\/tags?post=45592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}