AS HARJU ELEKTER 

ANNOUNCEMENT

04.03.99

 

 

The Supervisory Board of Harju Elekter approved a Danish company

Inexa Panel A/S to become the strategic investor and shareholder 

of Saajos Balti AS, a subsidiary of Harju Elekter. After the 

involvement of the new investor, the share capital of Saajos 

Balti will be divided between three shareholders - Harju Elekter, 

Saajos International Ltd. and Inexa Panel A/S. Everyone will have 

one third of the shares of Saajos Balti.

 

Shareholders of Saajos Balti AS approved the enlargement of the 

shareholders equity from EEK 5 million to EEK 6 million by 

issuing 100 000 new shares. The equity of the company will 

increase by 2 million EEK.

 

AS Saajos Balti is the fireproof and safety doors producer 

oriented on the Baltic building market and West-European 

shipbuilding market. The turnover is expected to amount EEK 25 

million in 1999. After adding a new investor and new 

possibilities in the shipbuilding market the company is expecting 

the turnover increase to EEK 50 million by 2000.

 

Inexa Panel A/S manufacture ships accommodation systems in 

Denmark. The wall and ceiling panels from INEXA are sold under 

the market leading trademark TNF. The company belongs to the 

Swedish INEXA Group, which also owns the steel profiles producer 

in Sweden - Inexa Profil. The group has six sales subsidiaries in 

Europe and are represented by agents world-wide. Turnover of the 

INEXA Group was SEK 1,1 billion in 1998 and the number of 

employees about 500. The Inexa Group is wholly owned by Karl-

David Sundberg.

 

Oy Saajos International Ltd. (Finland) is a holding company 

having the biggest fireproof doors producer in Finland and also 

related companies in Estonia, China and Denmark. Turnover of the 

Group was EEK 105 million in 1998 and number of employees about 

100. The company has worked in close co-operation with Harju 

Elekter since 1994.

 

For further information please call to Endel Palla, CEO of Harju 

Elekter (Tel 372 6747 400), Kalev Koort, COB of Saajos Balti (Tel 

372 6747 428), Seppo Saajos, COB of Saajos International Ltd.(Tel  

358 19 322900) and Jens Ulrich Nielsen,  Managing Director of 

INEXA (Tel 45 46 56 37 00)

 

 

 

Endel Palla

Chairman of the Board