Ulefos and Furnes Join Forces in New Partnership
By AVK Holding 14-01-2026
Press Release
Our AVK company Furnes AS in Norway and Randers Jernstøberi AS in Denmark are being merged into a new company with the Norwegian group Ulefos Holding AS including their subsidiaries in Sweden, Denmark and Finland. Hereby we merge two Norwegian based companies and are combining three foundries to optimise production across products and brands. The objective is to secure the future of Nordic water and wastewater infrastructure by delivering the most sustainable and cost-effective solutions.
The two industrial companies, Ulefos Holding AS and Furnes Jernstøperi AS, are joining forces in a new partnership to be operated under the name CK Partners AS, with ownership rooted in the Cappelen and Kjær families. The purpose of the joint venture is to strengthen the companies' position in a demanding market characterised by increased international competition and persistently low activity in the construction and water sector.
"Competition from low-cost countries is intense, and demand has remained below normal levels for an extended period. We need to go back to the financial crisis to find a comparable period of low production. Establishing an independent foundry system with three foundries will create better conditions for competing in the Nordic market," says Carl Diderik Cappelen, owner and chairman of Ulefos Holding.
"Market conditions are challenging. A joint venture will help secure jobs and maintain Nordic foundry operations for the future," says Jacob Kjær, co-owner of AVK Group and Director of AVK Advanced Manufacturing.
The new group is owned 49% by the Norwegian Cappelen family through Cappelen Holding, representing the seventh generation of ownership of the Ulefos group. The remaining 51% is owned by the Danish Kjær family's AVK Group, which has held a majority stake in Furnes Jernstøperi since 2019.
"We are now bringing together two strong industrial cultures to create a leading Nordic player. From Norway, the new operation will secure the future of water and wastewater infrastructure in the Nordic region by developing and producing the most sustainable, cost-effective and reliable solutions," says Morten Sæderup Nielsen, chairman of AVK Water Solutions and of the joint venture.
Oddbjørn Maurdalen will serve as CEO, and Jan Halvor Sæl will serve as CFO. Martin Sagen will be responsible for the foundry system and, by extension, all foundries. Erik Andreas Henriksen will be responsible for the development and sales of Ulefos products, as well as for the production and sales of products from the Esco valve factory in Kongsberg.
Development and sales of Furnes products will continue to be handled by Oddbjørn Maurdalen, who will establish an office for the sales and development company in Hamar during 2026.
Combining Three Foundries
The joint venture will operate three foundries, all to be renamed: Ulefoss Jernstøperi (formerly Ulefos Jernværk) in Nome municipality, Stange Jernstøperi (formerly Furnes Jernstøperi) in Stange municipality, both in Norway, and Harjavalta Valimo (formerly Niemisen Valimo) in Finland.
"We are establishing a foundry system that spans brands, facilities and expertise. Furnes products can be manufactured at Ulefoss, and Ulefos products can be manufactured at Stange. The increased flexibility enables us to optimise production," says Martin Sagen.
Sales Companies and Products Continue
The Stange-based company Furnes supplies street castings, including frames, manhole covers, grates and drains. Ulefos group offers the same products and supplies valves for water and wastewater through Esco. These will continue to operate as separate and competing businesses.
"Day-to-day operations will continue as before. For customers and suppliers, this means enhanced product development, improved logistics, and more cost-effective, sustainable local production based on renewable energy," says Oddbjørn Maurdalen.
