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Baltronic OÜ acquires Teletekno Balti AS in Estonia from Onninen Oy 

NEWS RELEASE
April, the 6th 2010

Baltronic OÜ acquires Teletekno Balti AS in Estonia from Onninen Oy

Onninen Oy has sold the entire capital stock of Teletekno Balti AS to Baltronic OÜ on 1st April, 2010. Simultaneously a three year cooperation agreement was signed between the companies which guarantees availability of the fibre optic and copper cable products for Onninen earlier manufactured by Teletekno Balti AS.

Teletekno Balti AS has manufactured fibre optic and copper cable products in Tallinn since 2002. Company became part of Onninen when Teletekno Oy was acquired in 2007. Unlike its former mother company it was never integrated into Onninen and thus continued operations under its original name.

Teletekno and after that Onninen has conducted good cooperation with Baltronic since 2004. Baltronic OÜ belongs to the Estonian company Baltronic Group OÜ, with its headquarters in Tallinn, and daughter companies in Riga, Latvia and Vilnius, Lithuania. It was founded in 2001 and is privately owned. Turnover of this profitable and solid company is close to 20 MEUR. Company operates in the telecommunication business. It runs its own manufacturing plant for fiber optic products in Tallinn. The company has ISO 9001 and ISO 14001 certificates.

The acquisition makes Baltronic the biggest fiber optic manufacturing unit in North Europe. With the long term agreement the parties commit themselves to a close cooperation striving for a feasible product range, efficient supply chain and high quality service level.

About Onninen
Onninen provides comprehensive materials services to contractors, industry, public organisations and technical product retailers. We are a family-owned company and have operated in the industry since 1913. We have 3,000 employees in our Finnish, Swedish, Norwegian, Polish, Russian, Baltic and Kazakh operations. Our net sales for 2009 totalled EUR 1.34 billion.

For further information, please contact:
Risto Uponen, Production Director tel. +358 40 8285870, risto.uponen@onninen.com
Paul-Erik Sjöman, Director, Telecom Service Center tel. +358 400 508243, paul-erik.sjoman@onninen.com

www.onninen.com


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