Eastern European Markets
October, 4. 2005

Aspo´s Autotank establishes Russian joint veture

Aspo's Autotank is expanding in Russia. Autotank has founded a joint venture in Russia called OOO Autotank. The company is headquartered in St. Petersburg.

OOO Autotank produces and markets dispensing and payment automation systems for service stations. The Russian market for payment terminals is expected to grow rapidly in the next few years.

"The number of distribution points is growing robustly in Russia. “24-hour service and fuel theft prevention will enhance demand for terminals, at both full-service and unmanned stations", says Autotank CEO Peter Hutton.

"Since the control system of the payment terminal also enables fuel volume monitoring in store, it can be used to improve the efficiency of service station chains as well. As the number of distribution points is on the rise in Russia, this will create an important competitive advantage for our terminal", Hutton says.

Autotank is the majority shareholder in OOO Autotank; Autotank's long-time Russian partner holds the minority interest. In addition to St. Petersburg, Autotank has Russian customers in the Vyborg and Moscow regions. Autotank's affiliate, Inuctan, will continue to represent Autotank in Moscow.

The Aspo Systems Division consists of Autotank Ltd and its subsidiaries. Autotank is the leading supplier of automated service station dispensing systems and maintenance services in the Baltic Sea region. It already has subsidiaries in Sweden, Norway, Estonia, Latvia, Lithuania and Poland. The net sales of the Autotank Group totalled approximately EUR 38 million in 2004 and it employed about 215 people.

For further information:
Peter Hutton, CEO, Autotank
phone +358-9-759 5263

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