Finlands Fortaco highway equipment company has purchased Serbias Rapp Zastava a company which manufactures winches and other similar solutions with a focuses on the Maritime market.

With this purchase it means Fortaco with continue employing 150 staff in Serbia, it will also allow to provide its customers with a higher capacity for the steel fabrication and assembly businesses as well as helping growd its existing portfolio in the off-highway machine sector.

Lars Hellberg, the president and CEO of Foraco, said: "On the back of the good performance during the difficult year, I am happy to announce Fortaco's expansion to Serbia by the acquisition of Rapp Zastava, which is aligned with our strategy to be the leading partner to the off-highway and marine equipment industries. I am [particularly] impressed with [its] experienced team, good infrastructure and great products.

"The factory is modern with further expansion opportunities. I am convinced we can provide our customers with increased value in steel fabrications and assemblies."