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Nexco as
Postboks 786 Brakerøya
N-3002 Drammen, Norway

Phone.: +47 32 82 68 70
Mobile: +47 909 97 867
E-mail: firmapost@nexco.no

Austin Europe acquire Nexco Holding

Austin Powder Holdings Company located in Cleveland, Ohio, US has, through their daughter company Austin Europe acquired 100 % of the shares in Nexco Holding.  Austin Powder Company was established back in 1833 and is one of the world leading explosives companies with operations worldwide. 

Nexco as was established in 2007 by Petter Jensen and NexConsult was established by Mr. Jensen and Jan Mehren the year after.   By acquiring the Holding Company the new owners will own 100% of Nexco as and 70% of NexConsult.

Managing Director and former owner Petter Jensen says he is very satisfied with the agreement.  Nexco had reached a phase where future growth was dependent on greater capital outlays.  “We had very high ambitions regarding bulk trucks and future growth, but despite a doubling of the turnover from the year before and a good year end result 2009 we saw a need to strengthen our financial position and organizational recourses” stated Mr. Jensen

“Austin was interested in a stronger position in Scandinavia and Nexco needed an industrial investor who knew the explosives market and understood our strategies.  In this respect Austin is our ideal owner.”   Jensen will continue as the Managing Director for Nexco and Mr. Mehren will continue as Managing Director for NexConsult.  The management will ensure that the level of service, competence and quality that customers have grown to appreciate from Nexco will remain and continuously improve.