HISTORY

Duroc was founded in 1987 with the idea of laser hardening hardening horseshoes. When Duroc was introduced to the stock market in the mid-1990s laser-processing technology was the only business. During the years, operations have been developed, acquired but also sold or otherwise discontinued. With the acquisition of IFG, we have become a substantially larger and more international industrial group. Here is an overview of our historical development.

1987

Duroc was founded in 1987 as a collaboration between the Luleå Technical University and an entrepreneur. The original business concept was to launch commercially the revolutionary technology of using laser hardening to manufacture durable horseshoes.

1990

Duroc acquired Luleå Technical University’s laser.

1993

The result was negative Duroc went bankrupt. Turnover was SEK 1.7 million on three employees.

1996

The business was restarted and the stock was listed on the SBI list in order to integrate technology into new markets through acquisitions.

1997

Duroc acquired SJ’s wheel maintenance workshop in Luleå.

1998

Duroc acquired Micro Tools in Robertsfors and ABB Tooling in Västerås

1999

The Duroc share was listed on the Stockholm Stock Exchange’s O-list. Sales had during the past two years increased from 17 MSEK to 154 MSEK. During the year, Duroc acquired saw blade manufacturer Swedish Saw Blades, which later, together with additional acquisitions, came to be the Micor division.

2000

Acquired 45 percent of the coating company Impact Coatings.

2001

Acquired Deutsche Bahn’s train maintenance operations in Leipzig, Germany.

2002

Established Duroc Tooling in Olofström as a close cooperation with Volvo Cars.

2003

Duroc Tooling in Västerås was bankrupt.

2004

Expanded into Germany through acquisition of the maintenance workshops SFW and SWS. Impact Coatings was noted on the New Market.

2005

Acquired the maintenance plant Ferro Recond.

2006

Impact Coatings, German maintenance companies and Swedish Saw Blades subsidiaries in Latvia and Finland was sold. Duroc Engineering invested in mobile laser equipment as part of a collaboration with the Ringhals nuclear power plant. Duroc had approximately 170 employees and annual sales of approximately 200 MSEK.

2007

In conjunction with a rights issue, the machine-trading companies  Swedish Tool Holding, Ernst Gerber and saw blade manufacturer Lamitec Tools were acquired. The latter was then merged with Micor in Laholm, while Swedish Tool and Ernst Gerber formed the basis for the Industrial Trade business area.

2008

Acquired Madsen & Hansen in Denmark.

At the end of 2008, Duroc had approximately 280 employees with a turnover of approximately 700 MSEK.

2009

Acquired the rolling mill Hard and Special Steels from SSAB.

2010

Duroc Engineering in Gothenburg (priorly named Ferro Recond) was sold. Duroc Engineering’s operations in Umeå moved the production to Duroc’s facilities in Luleå.

2011

Divested Duroc Tooling in Olofström.

2012

Carried out an investment program of approximately SEK 50m for Luleå operations Duroc Rail and Duroc Special Steel. Also sold Duroc Tooling in Robertsfors

2014

Initiated an efficiency program to improve profitability in industrial trade and industry.

2015

Svartöns Specialstål, formerly Duroc Special Steel, has had an unprofitable period since 2011 when one of the company’s major customers moved production abroad. After several years of work on rationalization the company returned to profitability. However, the year ended with a engine breakdown with subsequent production halt and loss of customers.

2016

Svartöns Specialstål was put into bankruptcy in October.

2017

At the beginning of 2017, the Fiber manufacturer International Fibers Group was acquired. With the acquisition, annual sales increased from approximately SEK 400m to approximately SEK 2,200m. During the second half of the year, a company in the field of climate control and energy efficiency was acquired, which subsequently changed its name to IFG Cresco.

2018

In the summer of 2018, the diesel engine distributor Universal Power Nordic was acquired.