April 28, 2011 – Mint of Finland Ltd, which produces metallic circulation and collector coins, has bought the entire share capital of the German coin-blank manufacturer Saxonia EuroCoin GmbH from DNick Holding plc, which is the manufacturer of nickel and nickel alloys listed on the unofficial registered market in Germany. The deal has established the strongest coin manufacturer in the Eurozone. Since the deal took place, the budgeted turnover for Mint of Finland Group in 2011 is EUR over 120 million.
The deal does not affect the location of production plants in Vantaa, Finland or Halsbrücke, Germany. The deal will bring the benefits of synergy in sales, marketing and product development. The client base is formed by central banks, mints and collector coin specialists from all around the world. With these new business operations, Mint of Finland Group can offer increasingly flexible and innovative solutions for circulation and commemorative coins.
Saxonia Eurocoin GmbH was founded in 1993. Saxonia Eurocoin is the biggest coin-blank manufacturer in the Eurozone whose products include coated steel coin blanks, non-ferrous metal blanks and precious metal blanks. In 2010, the company’s turnover was EUR 80.7 million and it had 95 employees.
“Thanks to this deal, Finnish coin manufacture is strengthening its position in the world market. In 2010, the company produced 1.1 billion coins, for which the Mint of Finland is one of the world’s biggest coin exporters,” said Paul Gustafsson, Mint of Finland’s CEO.
“The merging of Saxonia and Mint of Finland boosts our expectations of making good on our current strategy in the global market,” said the CEO of Saxonia EuroCoin GmbH, Stephan Siegel.