Powernet Oy, Finland’s leading manufacturer of power supply solutions grows in 2013
Management and principal owners strengthen ownership in Powernet Oy
Powernet Oy, a Finnish company specialised in power supply solutions, has strengthened its operations through a directed share issue to owners and capital investors.
This capital investment will support the company’s strategy of consistent growth, focused on developing the strongest business segments. These include power conversion products and solutions for rail transport, renewable energy and industrial automation.
Alongside rapidly completed product development projects, strong technology, competitive R&D and ability to innovate enables Powernet to satisfy customer needs, even in the most challenging projects.
The company's results and profitability turned positive in 2013. Earning power will continue to improve, due to intense development efforts in particular. Net sales are estimated to grow by three per cent in 2013. Growth prospects for 2014 are positive and recently launched export projects promise even double-digit growth next year. The aim is to increase net sales to approximately €16 million over the next few years.
Top expertise, based on strong product development and research, will remain in Finland, and more resources will be invested in R&D. The company’s factory in Äänekoski is responsible for approximately one third of production. Outsourcing of maintenance and repair operations has had a positive effect on cost levels. Powernet’s worldwide subcontracting network of EMS partners ensures the cost-efficient production of high volume products.
- We raised new capital with the share issue and are very pleased to have attracted strong, individual Finnish owners who will contribute to business development. We will now be able to implement our growth strategy more efficiently and continue developing into one of Europe’s leading players in the industry, says Paul-Erik Sjöman, CEO.
More information:
Paul-Erik Sjöman, CEO
tel: +358 400 508243
email: paul-erik.sjoman@powernet.fi
www.powernet.fi
Powernet Oy
Powernet Oy, established in 1992, is a Finnish company which specialises in designing and manufacturing power supplies, inverters and power conversion solutions, with a strong emphasis on product development. Powernet’s key customer segments include special applications for renewable energy, transportation and specific industrial needs. The company’s strengths include energy-efficiency and demanding customer-specific power supply solutions.
The company's operations are based on power supply expertise, overall quality, competitiveness and profitability. Powernet is the partner of choice for selected and demanding customers and applications.
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