History
PowerMortar was developed in the late 1980s through a cooperative effort by the Technical University and Imatra Power's concrete research laboratory for IVO's own requirements. Later on, IVO and Neste merged to form the energy giant Fortum. Development projects conducted at Fortum's technology centre generated underwater PowerMortar, as well as
- PowerMortar for use above water surfaces
- Injection mortars
- Sprayed concrete
- Anchorage mortar
On April 1st, 2001, Matti Ruuti Oy purchased the product development, marketing, sales and contracting rights for PowerMortar in Finland and Sweden from Fortum. Fortum's concrete research laboratory became Contesta Oy, to which Fortum sold product rights and the rights to European patents and trademarks. In a transaction completed on November 11th, 2004 all rights were transferred to Matti Ruuti Oy.