(4 Sept 2014) Luvata, the international manufacturing group has announced top-level organisational changes that will give its three divisions more autonomy, accountability and strategic focus on their individual markets.
The three divisions; Special Products, Heat Transfer Solutions, and Tubes, which cover a diversity of markets in heat transfer and high-tech products, will each report to their own internal operational boards. Subsequently, the three heads of the divisions: Jussi Helavirta, Dennis Appel and Ron Beal are appointed presidents respectively.
Jyrki Vesaluoma is appointed Managing Director of the parent company, Luvata Oy, which is a holding company focusing on the financial performance of the Group. Jyrki continues in his current role as Group CFO.
John Peter Leesi moves from being CEO to Chairman of Luvata Oy. John Peter has also been appointed CEO of Munters AB, another Nordic Capital portfolio company (Fund VII). He has held this role in an interim capacity since May 2014.
John Peter commented: “The Board and Luvata’s executive team are happy to announce this robust reorganisation, which gives Luvata greater competitiveness in serving its markets and greater strength in its future.”
Luvata is a world leader in metal solutions manufacturing and related engineering services. Luvata’s solutions are used in industries such as renewable energy, power generation, automotive, medicine, air-conditioning, industrial refrigeration, and consumer products. The company’s continued success is attributed to its longevity, technological excellence and strategy of building partnerships beyond metals. Employing over 6,300 staff in 17 countries, Luvata works in partnership with customers such as Siemens, Toyota, CERN and Carrier. Luvata is owned by Nordic Capital funds V and VI.