“Neomarkka will focus in the future on a limited number of investments in which it is possible to achieve better than average market returns through the development of target companies and thereby develop Neomarkka’s shareholder value. The Reka Kaapeli deal is the first step in the implementation of the new strategy. Reka Kaapeli has a clear strategy for expanding operations in the Nordic countries, the Baltic countries and especially Russia,” says Pekka Kainulainen, Chairman of the Board of Neomarkka.
“The deal we are taking now is a natural next step in the development of Reka Kaapeli. Reka Kaapeli has a strong position in Finland and Sweden. With the new owner, Reka Kaapeli’s ability to develop and grow international business is clearly improving,” says Jorma Wiitakorpi, Chairman of the Board of Reka Oy.
Reka Kaapeli Group is one of the leading manufacturers of installation and power cables in the Nordic and Baltic countries. Reka Kaapeli was founded in 1961 and it employed 233 people on 31 March 2007 and 30 people abroad. Reka Kaapeli’s domestic production facilities are located in Hyvinkää, Keuruu and Riihimäki. In 2006, the company acquired a cable factory from Podolsk, Russia, with a view to expanding its Russian operations. About 90% of Reka Kaapeli’s net sales in 2006 came from EU countries.
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