Telko Ltd has acquired the business of the Danish company Square Oil A/S. Square Oil is a service and distribution company dealing in lubricants, and its main principal is BP Castrol. Square Oil A/S has concentrated on demanding industrial lubricant customers. Net sales of the company is about EUR 3 million, half of which comes from Norwegian and the other half from Danish markets. Telko has similar significant long-standing cooperation in industrial lubricants with BP Castrol in Finland, Sweden and Norway. The transaction has no significant impact on Telko’s result in 2018.
”Square Oil’s business fits to Telko excellently. Principal of Square Oil, BP Castrol, is already significant partner for Telko. With the acquisition, we get good customer base in Denmark and Norway, and we also get very competent organization”, says Kalle Kettunen, CEO of Telko.
Telko Ltd is owned by Aspo Plc which was founded in 1929.
For more information please contact:
Kalle Kettunen, Telko Ltd, CEO, tel. +358 40 558 5478, kalle.kettunen@telko.com
In the picture from left to right: Morten Nedergaard, Director Lubricants Danmark/Norge, Per Rosenberg, VP Telko Lubricants, Kalle Kettunen, President Telko Oy, Ib Mortholst, founder of Square Oil, Dag Ivar Rakke, Sales Manager Lubricants Norge, Per Mortholst and Tomi Tanninen, CFO Telko Oy