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Eastern European Markets

NEWS RELEASE
November, the 5th 2009

Peikko to start manufacturing activities in St. Petersburg, Russia. First product Tera Joint floor joints. (05/11/2009)

Peikko Group’s subsidiary in Russia, “OOO Peikko”, starts manufacturing operations in the northern part of the city of St.Petersburg. The first production runs in the newly leased facilities will be completed in November. The initial products produced are TERA Joint leave-in-place floor joint systems which are used in industrial concrete flooring. End-customers in Russia using facilities with Peikko’s flooring joints have in recent years been e.g. OBI, K-Rauta, Hyundai and Komatsu.

Peikko Group has exported its products to Russia since mid 1990s and established its own subsidiary in St.Petersburg in 2006. The subsidiary company has been responsible for sales, technical support and warehousing activities to local customers. Peikko has been actively looking manufacturing alternatives during the past years, however, finding suitable premises with reasonable costs had been until now difficult.

“This decision to take the first steps towards manufacturing presents a small but important step for our expanding operations in Russia. Despite the current negative market conditions Peikko has a long-term trust in the Russian market. Through local manufacturing Peikko is able to meet the challenges caused by the fluctuations of the local currency, the customs duties and local competition. This is essential for us to secure Peikko’s long-term position in the market place.” states Raimo Lehtinen, Managing Director of Peikko Group Corporation.

About Peikko Group:
Peikko is a Finnish family-owned company specializing in composite beams and fastening products for concrete connections. Peikko Group Corporation has subsidiaries in Austria, Canada, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Italy, Latvia, Lithuania, the Netherlands, Norway, Poland, Russia, Saudi Arabia, Slovakia, Spain, Sweden, Switzerland, Turkey, Ukraine, the United Arab Emirates and the United Kingdom. The production facilities of Peikko Group are located in Finland, Germany, Lithuania, Russia, Slovakia, United Arab Emirates and the United Kingdom. Peikko Group’s consolidated sales in 2008 were EUR 115 million and Peikko employs more than 700 people. Further information: www.peikko.com

Further information:
Raimo Lehtinen, Managing Director, Peikko Group Corporation, Tel. + 358 40 5209260
Matvey Pirozhenko, Managing Director, OOO Peikko, Tel. +7 921 9412575

www.peikko.com

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