Transfer of Hydroline’s in-house tube & rod processing activities to Hoberg & Driesch Finland Oy

As the business of Finland's leading hydraulic cylinder manufacturer develops and expands, an even greater focus on their core business and its efficiency is paramount. Following the company’s growth strategy and enabling a stronger concentration of resources, Hydroline have agreed to transfer their in-house 1st stage tube processing operations at the Vuorela - Finland site to Hoberg & Driesch Finland Oy The agreement with Hoberg & Driesch offers Hydroline the flexibility for more operative, value adding processes. It will facilitate a better concentration of Hydroline’s resources and thus enables the company to focus specifically on its core business. With the transfer of the tube processing activities, delivery times will be shortened considerably. The arrangement also makes Hoberg & Driesch Finland Oy a major supplier of Hydroline Oy's cylinder materials. It has been a great state of mind of this transfer to be able to ensure the continuity of work for Hydroline’s cut shop workers. With the agreement, three Hydroline employees will transfer to Hoberg & Driesch Finland Oy. Forming a nucleus for Hoberg & Driesch’s further expansion into tube processing activities this arrangement also offers greater opportunities to the transferring workers, since they will be able to serve other customers than Hydroline as well in the future. The contract between Hydroline and Hoberg & Driesch was signed on Monday 19th of April 2021. The transfer will take effect on 14th of June 2021.