Harju Elekter Group signed a large volume contract

20.12.2016 Market Announcements

Harju Elekter Group won the procurement for the supply of substations held by Finland’s largest distribution network company Caruna. According to the contract awarded for 2+1+1 years, concluded on 19 December 2016, more than 1000 pre-fabricated substations per year shall be added to the current production of the Harju Elekter Group’s electric equipment plants in Estonia and Finland for Caruna Group, bringing about a considerable increase in production. The estimated volume of the contract is 12 million euros per year.

Caruna is the largest company in Finland dedicated to the transmission of electricity. Countrywide, Caruna holds a market share of about 20 per cent of local electricity transmission and provide electricity to 650,000 private and corporate customers in South, Southwest and West Finland, as well as in the city of Joensuu, the sub-region of Koillismaa and the Satakunta region.

Harju Elekter is the leading MV/LV electrical and engineering devices producer in the Baltic countries as well as well-known and respected company in Scandinavia. Harju Elekter Group includes manufacturers of electrical equipment in Estonia, Finland and Lithuania: AS Harju Elekter Elektrotehnika (100%), Satmatic Oy (100%), Finnkumu Oy (100%) and Rifas UAB (100%), as well as the telecommunications products manufacturer AS Harju Elekter Teletehnika (100%) in Estonia and real estate holding company Harju Elekter Kiinteistöt Oy (100%). In addition, AS Harju Elekter has financial investments in the Latvian electrical equipment sales company SIA Energokomplekss (14%), Estonian ultra-capacitors developer and manufacturer Skeleton Technologies Group OÜ (10%) and in the Finnish publicly listed company PKC Group Oyj (5%).

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


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