Harju Elekter Group signed a lease agreement with Prysmian Group Baltics AS

05.06.2023 Market Announcements Real Estate

AS Harju Elekter Group and Prysmian Group Baltics AS signed a lease agreement on 5 June 2023 until 2030. With the extended lease agreement, the real estate department of Harju Elekter Group leases to Prysmian Group Baltics more than 20,000 m² of production, storage and office space and nearly 40,000 m² of external storage territory. The contract also agreed on a large-scale renovation and reconstruction of the premises, the investment cost of which is up to 3 million euros.

Prysmian Group is a major global company at the forefront of innovative cable technology and whose shares are listed on the Milan Stock Exchange. Each year, the Group manufactures thousands of kilometers of underground and submarine cables and systems for power transmission and distribution, as well as medium and low voltage cables for the construction and infrastructure sectors. The group operates in 50 countries, 106 plants and 25 research and development centres and has about 29,000 employees.

The real estate unit of Harju Elekter Group is engaged in the development of industrial real estate, project management, leasing, and related services for both rental partners and Harju Elekter’s own companies. The real estate unit manages a total of nine industrial parks in Estonia, Finland, Sweden, and Lithuania.

Harju Elekter is an international industrial group with extensive experience in providing future proof solutions for electrical power distribution. We engineer, manufacture, and install electrification solutions for utilities, industries, infrastructure, public and commercial buildings. The entities of Harju Elekter Group in Estonia, Finland, Sweden, and Lithuania employ around 900 people, and the Group’s revenue in 2022 was 175.3 million euros.

Aron Kuhi-Thalfeldt
Real Estate Department Manager/Member of the Management Board
+372 5171448

Prepared by:
Marit Tack
Corporate Communications Manager
+372 5340 8444
E-mail: marit.tack@harjuelekter.com