Höganäs announces closure of Alvier PM Technology
March 27, 2024
Höganäs AB, headquartered in Höganäs, Sweden, has announced the closure of Alvier PM Technology, located in Buchs, Switzerland. Höganäs acquired Alvier PM — then reported to be Europe’s largest Powder Metallurgy tooling manufacturer — in 2018. At the time, Alvier PM’s client base reached across four continents, with customers in more than twenty countries.
Höganäs stated that despite exploring diverse options and alternative pathways to achieve financial viability for Alvier PM, it became evident that the company’s current direction did not align with Höganäs’ strategic objectives. This, it said, combined with the challenging market conditions and the financial pressures Alvier PM faces, led to the decision.
“Efforts have been made to refine the product portfolio, optimise costs, enhance efficiency, and strengthen customer relationships, in addition to looking for synergies with the Höganäs group. Unfortunately, these efforts have not led to the required improvements, making this decision necessary,” stated Andreas Jähnke, President Product Area Electro & Mechanical Technology.
As part of Höganäs’ strategic goal to become the preferred supplier of sustainable metal powder, the company is continuously evaluating its business to ensure alignment.
The closure of Alvier PM is expected to be completed no later than Q2 2024 and will impact twenty-nine employees.
“We understand that this is difficult news for our affected employees, and we will support them during this period,” Jähnke concluded.
