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 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
+46 73-385 92 19
Ola Samelius, CEO Tele Radio, vice CEO Allgon
+46 70-884 69 01
 Countries in former Soviet union