Commencement of negotiations

AS Harju Elekter announces that the Group has started negotiations with Telesilta Oy. The cooperation will provide new knowledge and skills in ship electrical and automation equipment manufacture and installation, and opens the door to the promising shipbuilding sector. Successful negotiations may lead to the acquisition of the company’s shares.

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.

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 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 main 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 and Lithuania employ more than 500 specialists, and the annual sales revenue of the Group exceeds 60 million euros. Harju Elekter’s shares are listed on Nasdaq Tallinn.

Andres Allikmäe
Chairman of the Management Board
+372 6747 400

 

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