Harju Elekter has decided to centralize production in Sweden by moving the various units in the Swedish subsidiary to Västerås and Malmö, as well as establishing new facilities at these locations to expand its business operations. As a result of the decision, Harju Elekter AB signed a letter of intent and a lease agreement today, 13 September, for the establishment of an office and production building in Västerås and for a new production building to be built in Malmö.
To rent 3,000 m2 building in Malmö, which will be completed by the end of 2022, a ten-year lease agreement was entered into with Nyfosa AB. To establish 6,000 m2 The building in Västerås signed a letter of intent to buy LC Development Fastigheter 17 AB, currently a wholly owned subsidiary of Wästbygg Gruppen AB. LC Development Fastigheter 17 AB will be responsible for handling issues related to real estate and construction. The declaration of intent only applies if the property council in the city of Västerås agrees to sell a specific plot to LC Development Fastigheter 17 AB for the establishment of the facility. The acquisition of the company’s shares is planned to be completed no later than November 1, 2022. Both production buildings will be established by Wästbygg Gruppen AB for Harju Elekter.
The concentration of Harju Elekter AB’s operations in Malmö and Västerås will ensure more efficient production, lower logistics costs and better security of supply for customers, which is a prerequisite for profitable growth in Sweden.
Nyfosa AB is a transaction-based real estate company that creates value by collecting sustainable cash flows and continuously evaluating new business opportunities. Nyfosa’s shares have been listed on Nasdaq Stockholm since 2018.
The Wästbygg Group is a construction and project development company with operations in the fastest growing markets in Sweden. The company, which is listed on Nasdaq Stockholm, builds and develops housing, commercial buildings and community service properties as well as logistics and industrial facilities – always with a strong focus on sustainability. In 2020, the company had sales of approximately SEK 3.8 billion and 310 employees.
Harju Elekter is an international industrial group with more than 50 years of experience, whose main business is the development and production of electrical and automation solutions. An increasing part of Harju Elekter’s technical solutions is aimed at the renewable energy sector and thus offers complete plans for solar power plants, charging stations for electric vehicles and other related solutions. Its factories in Estonia, Finland, Sweden and Lithuania employ around 800 specialists and the Group’s sales revenue during the first six months of 2021 was EUR 67.0 million. The shares in Harju Elekter are listed on the Nasdaq Tallinn Stock Exchange.
Chairman of the Board
+372 674 7400
Head of Communications
+372 5340 8444
Email: [email protected]