Duroc history

 

1987: Duroc is formed 

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.

 

1990s: Bumpy start, stock-market listing, acquisitions In 1990, Duroc acquired Luleå Technical University’s laser. After a bumpy start the business shaped up and the Duroc share was listed on the SBI list in 1996. The idea was to introduce the technology into new markets through acquisitions. The following years, Duroc acquired SJ’s wheel maintenance workshop in Luleå, Micro Tools in Robertsfors and ABB Tooling in Västerås. When the Duroc share was listed on the Stockholm Stock Exchange’s O-list in 1999, sales had increased to SEK 154 million. The acquisition of saw blade manufacturer Swedish Saw Blades was completed.

2000s: Expansion and acquisitions In 2000, Duroc acquired 45 percent of the shares in coating specialist Impact Coatings. A year later, Deutsche Bahn’s train maintenance operations in Leipzig, Germany, were acquired. In 2002, Duroc Tooling was established in Olofström. The German maintenance workshops SFW and SWS, and the maintenance company Ferro Recond, were acquired. In 2006 the holdings in Impact Coatings, the German maintenance operations and the Swedish Saw Blades subsidiaries in Latvia and Finland were divested. The same year Duroc Engineering invested in mobile laser equipment. Duroc had some 170 employees in 2006, and annual sales of around SEK 200 million. In 2007, Swedish Tool Holding, Ernst Gerber and Lamitec Tools were acquired, followed by the acquisition of Danish industrial trading company Madsen & Hansen in 2008. By the end of 2008, Duroc had approximately 280 employees and a turnover of around 700 SEK million. In 2009, Hard and Special Steels was acquired from SSAB Tunnplåt.

2010’s: Streamlining, investments, acquisition of IFG As part of streamlining the business, Duroc Engineering in Göteborg (Ferro Recond) was divested in 2010. The following year, Duroc Tooling in Olofström was divested. In 2012, Duroc’s investment program of approximately SEK 50 million in Duroc Rail and Duroc Special Steel was completed. The same year Duroc Tooling in Robertsfors was sold and in 2015, Micor and its associated companies were divested. Early 2017, Duroc acquired the fiber manufacturing group IFG. As a result of the acquisition, Duroc’s annual turnover increased from around SEK 400 million to approximately SEK 2,200 million.