Published: 2020-09-22 11:00:00 CEST
Harju Elekter
Company Announcement

Harju Elekter Group concluded an agreement with Finland’s second largest electricity distribution system operator

Estonia, 2020-09-22 11:00 CEST -- Harju Elekter Group concluded an eight-year framework agreement with Elenia OY, Finland’s second largest electricity distribution system operator. The first supply contract was signed by Harju Elekter and Elenia for the period 2021-2023.

According to the terms of the framework agreement, Elenia has the right to organise mini-tenders among the partners who have entered into the framework agreement, and a supply contract for the supplying of transformer substations will be concluded with the selected partner for a specified period of time. Based on the supply contract concluded on 22 September, Harju Elekter’s subsidiaries AS Harju Elekter Elektrotehnika and Satmatic OY will manufacture nearly 2000 transformer substations for Elenia over a period of three years. The volume of the contract is approximately EUR 20 million.

The manufacturing of substations by Harju Elekter Group’s factories in Estonia and Finland has increased significantly over the past few years, today reaching an average of 4000 substations per year.

The Elenia Group is the second largest electricity distribution system operator in Finland, providing services to 430,000 customers in Kanta-Häme and Päijät-Häme, Pirkanmaa, Central Finland, South Ostrobothnia and North Ostrobothnia. In addition to offering its electricity distribution service, the company also ensures the operation and modernisation of the electricity distribution system and the construction of electricity distribution system networks and connections with its partner companies.

Harju Elekter Group is the leading manufacturer of medium and low-voltage electricity and automation equipment in the Baltics, and a well-known and recognised manufacturer in Scandinavia. The main business activity of Harju Elekter is the development, production and sale of equipment required for the distribution and transmission of electricity. The main business activity is supported by the sheet metal production factory in Estonia, as well as the development and leasing of industrial real estate. A total of 800 specialists are employed in the Estonian, Finnish, Swedish and Lithuanian factories of Harju Elekter, with the Group’s six-month sales revenue amounting to EUR 74 million in 2020. Shares of Harju Elekter are listed on the Nasdaq Tallinn Stock Exchange.

 

Tiit Atso
Chairman of the Management Board
+372 674 7400

 

Additional information:
Jan Osa, CEO of Satmatic Oy and Finnkumu Oy, Tel.: +358 40 561 6669
Indrek Ulmas, CEO Harju Elekter Elektrotehnika AS, Tel.: +372 506 1208

 

 

Prepared by:
Marit Tack
Corporate Communications Manager
+372 5340 8444