Harju Elekter merges Finnish subsidiaries

In order to simplify the coordination of sales and marketing work and the management of Finnish subsidiaries, Harju Elekter decided to merge its subsidiaries Finnkumu Oy and Kiinteistöyhtiö Ulvilan Sammontie 9 with Satmatic Oy in 2020. The next step is to transfer all the Harju Elekter's real estate in Finland to Harju Elekter Kiinteistöyhtiö Oy and then rename Satmatic Oy to Harju Elekter Oy.

Harju Elekter Group is a leading producer of MV/LV electrical and engineering devices in the Baltic countries and a well-known and respected manufacturer in Scandinavia. Harju Elekter’s main field of business is the development, manufacturing and sale of equipment necessary for the distribution and transmission of electric energy. The core business is supported by a sheet metal plant in Estonia and the development and leasing of industrial real estate. Harju Elekter Group’s plants in Estonia, Finland, Sweden and Lithuania employ 800 specialists, and 9 months 2019 sales revenue of the Group was 112.2 million euros. Shares of Harju Elekter are listed on Nasdaq Tallinn.

Andres Allikmäe
Chairman of the Board/CEO
+372 674 7400

 

 

Prepared by:
Moonika Vetevool
Corporate communication and IR manager
+372 671 2761