Investments in companies - 10.8.2010
Finnish Industry Investment Ltd and Pension Fennia have invested altogether MEUR 3 in passenger information and safety system developer Mitron Group Oy Ltd. The companys founding shareholders will continue as owners.
Mitron designs and manufactures information and safety systems for trains, metros and trams as well as for airports, railway stations, coach bays and urban bus stops. Display panels at stations, for instance, give passengers timetable information in real-time.
Over the last three years Mitron has grown faster than the market average. At the beginning of 2010 the companys order book stood at MEUR 30. Customers in the Nordic countries and elsewhere in Europe include the railway companies of Finland, Sweden, Denmark, the Netherlands and Germany, leading manufacturers of railway rolling stock, and Europes leading system integrators.
The rail services market has developed extremely well, and with it demand for Mitron Groups products. This investment will both secure and boost our growth in Europe. We will strengthen our organisation both in Finland and, more particularly, Europe. We also plan to establish new country organisations to supplement our existing units in Germany and Poland, says Mitron Groups CEO Heino Ruottinen.
Mitrons products fulfil green values and improve customer satisfaction and safety in the public transport sector, points out Investment Director Jussi Hattula from Industry Investment.
The companys management has long experience in this sector, and already has important international customer relationships, says Director of Client Financing Silja Bjondahl fromPension Fennia.
Mitrons business fits in well with current trends: public transport is growing, environmental issues are in the spotlight, cross-border traffic is on the increase, more security systems are needed, and passenger comfort is being enhanced.
Mitron Groups head office is in Finland. The Finnish subsidiary Mitron Oy has a head office and production in Forssa and a branch office in Tampere, both in Finland. Mitron Group has subsidiaries in Germany and Poland and an exports office in the Netherlands. The Group generated net sales of MEUR 9.5 in 2009 and currently employs approx. 100 people.
Mitron Group Oy Ltd specialises in the design and manufacture of public transport information and safety systems. The products and systems supplied by the company are used in transit vehicles and public transport stations around the world. Mitrons customers are leading European system integrators, railway operators and vehicle manufacturers. www.mitron.com
Pension Fennia is a mutual pension company that is owned by its customers. The companys mission is to provide reliable pension insurance cover for the employees of its client companies and for its entrepreneur clients. Pension Fennia generated premium income of EUR 1.1 billion in 2009. The market value of the companys investments at the end of 2009 amounted to EUR 6.2 billion. Pension Fennia provides cover for over 210,000 employees and entrepreneurs. Pension recipients totalled 81,600 at the end of 2009. Pension Fennia is a part of the Fennia Group. www.elake-fennia.fi
Finnish Industry Investment Ltd is a government-owned investment company whose mission is to promote Finnish business, employment and economic growth through capital investment. Finnish Industry Investment invests in growth companies, directly and through funds. Capital investments are needed for financing growth, and for internationalisation, spin-offs, major industrial investments, and both sectoral and corporate restructurings. The targets are in all sectors. The company co-invests with private investors, limiting its investment to at most half the capital invested and ownership. The investments of Finnish Industry Investment amount to MEUR 650. www.industryinvestment.com
For further information, please contact:
- Heino Ruottinen, CEO, Mitron Group Oy Ltd,
mobile +358 500 539 327, heino.ruottinen (at) mitron.com
- Silja Bjondahl, Director of Client Financing, Pension Fennia,
mobile +358 40 7514 950, silja.bjondahl (at) elake-fennia.fi
- Jussi Hattula, Investment Director, Finnish Industry Investment Ltd,
mobile +358 400 669 955, jussi.hattula (at) industryinvestment.com