Harju Elekter’s subsidiary won an important tender in Finland

25.01.2018 Harju Elekter Finland Market Announcements

On 18 January 2018, AS Harju Elekter Elektrotehnika, an Estonian subsidiary of AS Harju Elekter, signed a contract with Caruna Oy, owner of the largest electrical grid in Finland, to supply low-voltage cable distribution cabinets and metering cabinets to them in the course of 2+1+1 years. According to estimates by Caruna, the expected volume of the contract is at least 5 million euros.

Harju Elekter Group already has valid contracts in place with the Caruna Group to supply pre-fabricated substations, due to which the production of substations in the Group’s factories in Estonia and Finland has grown from the annual 1000 substations to 3000 substations in a single year. In order to cover the volume of commissions without any issues, Harju Elekter Elektrotehnika’s production capacities were increased last year, directing the operations of the subsidiary to the new production halls at Keila Industrial Park.

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.

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 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 nearly 700 specialists, and 9 months sales revenue of the Group was 74 million euros. Shares of Harju Elekter are listed on Nasdaq Tallinn.

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

Additional information: Jan Osa, Managing Director of AS Harju Elekter Elektrotehnika, phone +372 674 7449.


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