In just a few years, they transformed the machine factory: Now the company is growing at breakneck speed

The story of RM Fintech began with a decision that two employees at Hardi International did not believe was the right one.

At the end of 2006, Hardi International in Nørre Alslev decided to outsource its metalworking operations. But the former owners saw things differently. They bought the machinery and in January 2007 launched their own company, RM Fintech.

At first, Hardi remained the company’s most important customer. But the following years were spent building up the business, broadening the customer base and acquiring several smaller machine shops. So when new owners took over a few years ago, with Rasmus Skovgaard becoming Managing Director of RM Fintech, they did so with a certain degree of respect. They were taking over a well-run company with strong results.

At that point, RM Fintech was still supplying metal components to industrial customers, with Hardi International still its largest customer. Since then, RM Fintech has become something different. Today, its production spans a broader range, while technology plays a much bigger role. At the same time, both the workforce and the production area have grown.

- We developed a strategy that also looked towards other industries: research, energy, oil and gas, and so on. In that way, we have become a considerably larger company, both financially and physically, with the production area growing by almost 1,000 square metres. So it has been a pretty wild development, says Rasmus Skovgaard.

From individual components to complete solutions

An important part of the transformation is that RM Fintech has moved further into its customers’ supply chains. Where a job might previously have involved manufacturing a specific component, the company now takes responsibility for much larger parts of the process. This can include purchasing subcomponents, machining, assembly and packaging, so the product is ready to be sent on to the customer.

Rasmus Skovgaard calls it a “gamechanger” for RM Fintech and explains:

- We have taken over the entire supply chain. Instead of being a subcontractor for individual components, we now produce a finished product. That means our customers only have to deal with one product number instead of many, so it is an advantage for them as well.

Ready for a new reality

At the same time, the company has deliberately sought out new markets, and the defence industry has been one of the areas that has proved particularly interesting, says Rasmus Skovgaard.

- There was this turning point when Mette Frederiksen began talking about rearmament and said: “Buy, buy, buy!” After that, a lot of companies in our industry started looking in that direction. Fortunately, we had moved early, so we were already relatively well established in the defence industry when the geopolitical situation began driving the rearmament push.

The same applies to investments in production. His predecessors, Thomas and Bjarne, were early adopters of automation. But while earlier investments were primarily aimed at known products and existing production, the thinking today is that new machinery should from the outset be capable of further development and automation.

- We think automation first!, the Managing Director adds.

Wants to grow – but not move away

Despite the strong growth of recent years, the goal is not necessarily to continue expanding at the same pace. Quite the opposite. After several years of major changes, investments and expansions, the next phase is more about getting the new and larger business to run steadily in day-to-day operations, Rasmus Skovgaard says.

Perhaps the most important result of the company’s recent development is not the individual growth figures, but the fact that it now has a broader business with more areas to rely on.

And although production has become more high-tech, the connection to the local area remains important. Many employees come from the region, where the metal industry has shaped the labour market for generations.

- I see a loyalty among our people that is noticeable. They are skilled, they turn up and they do their jobs. Yes, I actually think it has something to do with the area – how they were brought up and the kind of people who live here, says Rasmus Skovgaard, adding:

- So even though we will continue to focus on innovation and development, there is one thing that will remain the same: the location. We are staying on Lolland-Falster.