Harju Elekter acquires Telesilta Oy

After the transaction, Telesilta Oy will continue to operate under its own name and brand as a wholly-owned subsidiary of the Group. The purchase opens the door to the promising Finnish shipbuilding sector, a press release states. The transaction was completed on the date of signing, when monetary settlements were also made. According to the agreement and as the transaction is not significant according to the Stock Exchange Rules, the parties will not disclose the value of the transaction. Simo Puustelli was appointed Chairman and Andres Allikmäe, Tiit Atso, Pertti Vuorinen and Kari Laulajainen were appointed as Members of the Management Board of Telesilta Oy. Kari Laulajainen will continue as a Managing Director of Telesilta Oy. Telesilta Oy is an electrical engineering company established in 1978, located in Uusikaupunki, Finland. The company specializes in electrical contracting for the shipbuilding industry – everything from planning to installation, implementation and service. The annual sales revenue of the company was EUR 4.5 million in 2016, with staff numbers around 30.