Finnish Kaukomarkkinat acquires local renewable energy equipment company
(ADPnews) - Nov 3, 2010 - Finnish diversified holding Aspo Oyj (HEL:ASU1V) on Monday said its energy-efficiency technology unit Kaukomarkkinat Ltd acquired local renewable energy equipment company KSM-Lampotekniikka Oy for an undisclosed sum.
The staff of KSM-Lampotekniikka will be transferred to the acquiring company.
Kaukomarkkinat expects the need for energy-efficiency products and services to grow, driven by new Finnish- and EU-wide regulations for greenfield construction and a new national energy policy, as well as rising energy prices.
KSM-Lampotekniikka imports, sells and installs biofuel equipment and solar power systems. The company also supplies heating solutions based on solar power and different biofuels. It envisages net sales of EUR 1 million (USD 1.4m) for 2010.