Tomra Systems ASA signed an agreement to acquire 100 percent of the shares in Orwak Group AB from Axenti Holding AB. Orwak Group, headquartered in Sweden, provides a wide range of compaction solutions for recyclables.
Orwak sells its products through more than 30 countries. The company has sold more than 50,000 units worldwide.
Orwak Group's main subsidiaries are AB Orwak, Presona AB, and AB Morinders Verkstäder. Orwak and Morinders focus on retail trade and industry, while Presona supplies large industrial compaction solutions to material recovery facilities and other industries.
Through the acquisition of Orwak Group TOMRA confirms its strategy and commitment to expand its recycling technology portfolio. The incorporation of Orwak Group into TOMRA's Recycling Solutions Division will further strengthen TOMRA's presence in non-deposit markets. The combination of Presona and TOMRA's subsidiary, TiTech Visionsort, offers potential for increased penetration of TiTech's optical sorting solutions in new markets. The acquisition of Orwak is deemed an important step for TOMRA in its ambition to become a leading global provider of recycling technology equipment and solutions.