Allgons expands by establishing subsidiary in Russia

Tele Radio's global reach and large distribution networks of its own subsidiaries and partners are further strengthened by the establishment of a subsidiary in Russia. The Russian market for industrial radio control is deemed to have great development potential where the company's innovative solutions combined with local presence create great opportunities.

Allgon's subsidiary Tele Radio operates globally and delivers industrial radio control to customers in the industrial, mobile and mining markets, all with high demands on functionality and security. The Russian economy is strongly characterized by industry, including machine manufacturing, mines and forestry. Industrial production's share of GDP in 2018 was approximately 32 percent, corresponding to USD 528 billion. Tele Radio believes that the Russian market has good growth potential, partly due to continued economic growth, but also as customers become more sophisticated through increasing efficiency in the industry which contributes to good demand for radio control.

Operations in Russia include the CIS countries[1] and will be led by Karl Norman. He has a solid experience of the Russian market where he has worked and lived for over 15 years.

- The establishment in Russia is another example of Tele Radio's successful model for long term expansion into new markets. Russia is geographically the world's largest country rich in natural resources and a widespread industry. We believe that these factors offer great potential for our industrial radio control solutions in the country. Under the leadership of Karl Norman, who has solid experience and knowledge of the Russian market, we have the ambition to take a strong position in this large market, says Tele Radio's CEO Ola Samelius.

- I am very proud to have been given the confidence to start up and lead Tele Radio's operations in Russia and the CIS countries. With Tele Radio's innovative solutions, we see good potential in being one of the driving players in the development of industrial radio control. We already have established partnerships with several players in the lift market and our goal is to be a leading company in the premium segment for radio control in the Russian market by the end of 2020, says Karl Norman, CEO of Tele Radio Russia / CIS. Tele Radio Russia will be based in Moscow.

Allgon recently announced that Tele Radio will establish a subsidiary in Brazil, which will be the company's first in Latin America. Tele Radio Brazil is expected to be fully operational by the end of September 2019. With the new Russian company, Tele Radio has subsidiaries in 17 countries.


For more information, contact: 

Johan Hårdén, CEO Allgon
johan.harden@allgon.se
+46 73-385 92 19

Ola Samelius, CEO Tele Radio, vice CEO Allgon
ola.samelius@allgon.se                                            
+46 70-884 69 01



[1] Countries in former Soviet union

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About Us

Allgon is a world leading company within the area of industrial radio remote control. We develop systems and products with a wide usage in industrial applications for customers in Europe, USA and Asia. The customer base is within areas such as mobile, transport, construction and the TMT sectors. Allgon has around 360 employees in 18 countries. Radio remote control systems is the mainstay of Allgons turnover through the subsidiaries Tele Radio and Åkerströms, two companies that complement each other. Åkerströms focuses on heavy industry with high demands on flexibility, safety and longevity in mainly Sweden markets, while Tele Radio offers a broader range of systems world-wide. Allgon also owns companies within connectivity. The company is headquartered in Kista, Stockholm and is listed on Nasdaq First North Stockholm (ALLG B) with FNCA, +46(0)8-528 00 399 info@fnca.se, as certified advisor.

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The establishment in Russia is another example of Tele Radio's successful model for long term expansion into new markets.
Ola Samelius, CEO Tele Radio
With Tele Radio's innovative solutions, we see good potential in being one of the driving players in the development of industrial radio control.
Karl Norman, CEO Tele Radio Russia/CIS