ADJUSTMENT: Large order received by Harju Elekter’s subsidiary

13.01.2017 Harju Elekter Estonia Market Announcements

On 10 January 2017, AS Harju Elekter Elektrotehnika, a subsidiary of AS Harju Elekter, received two written orders for supplying total of 86 units of specialised pre-fabricated substations to Konecranes within a two-year period. Supplies are directed to the USA. By agreement, the total value of the transaction will not be disclosed.

Over the past few months Harju Elekter Group has signed 3 large-volume agreements, as a result of which the production of substations in the Estonian and Finnish plants of the Group will increase to a significant degree. As a result of the received orders, the production of substations in the Estonian and Finnish plants of the Group will increase to a significant degree, i.e. the current annual production, which is approx. 1100 substations, could increase up to a maximum of 2500 substations with these orders.

In order to ensure smooth fulfilment of the order volumes, the production capacity of AS Harju Elekter Elektrotehnika will be increased in the first half-year and the subsidiary will transfer its operations to new production halls – being vacated by PKC Eesti – in the Keila Industrial Park.

Konecranes is the world’s leading group providing hoisting equipment and services, servicing a diverse range of customers, incl. the manufacturing and processing industry, shipyards, ports and terminals.

After launching its activities in 1968, Harju Elekter Group has developed into a leading producer of MV/LV electrical and engineering devices in the Baltic countries and a 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 main 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 and Lithuania employ more than 500 specialists, and the annual sales revenue of the Group exceeds 60 million euros. Harju Elekter’s shares are listed on Nasdaq Tallinn.

Andres Allikmäe
Chairman of the Management Board/CEO
+372 6747 400

Additional information: Manager of AS Harju Elekter Elektrotehnika Mr Jan Osa (+372 674 7449).


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