Harju Elekter Group Sells Stake in Finnish Electric Charging Firm

Author: Logan Wright Updated: 04-07-2025 06:18 AM

Harju Elekter Group Disposes of Its Stake in IGL-Technologies Oy

Harju Elekter OY, a significant branch of AS Harju Elekter Group, has taken a strategic step by signing a contract to sell its 9.15% stake in IGL-Technologies Oy. This Finnish firm excels in parking and e-mobility solutions, including the operation of charging systems. The decision to sell this holding aligns with Harju Elekter’s vision to sharpen its focus on product innovation and the development of advanced charging solutions.

Transformation in the Electric Charging Sector

This transaction signifies a shift for Harju Elekter as it aims to deepen its commitment to research and development. The company plans to channel resources into enhancing its next-generation charger series, which is crucial for supporting sustainable transportation. By divesting from IGL, Harju Elekter can concentrate on pushing the boundaries of electrical solutions while maintaining a competitive edge in the market.

Long-Standing Collaboration

For over a decade, Harju Elekter has worked closely with IGL-Technologies, focusing on the development, production, and marketing of charging equipment. Their partnership has thrived and will continue even after this transaction, ensuring that both companies can leverage their strengths in the evolving electric vehicle landscape.

Transaction Insights

According to Stock Exchange Rules, this transaction falls within a non-significant category, which means the specifics of the deal's monetary value will not be publicly disclosed. Furthermore, this sale does not involve any personnel related to the issuer and is not expected to dramatically affect the overall operations of Harju Elekter Group. Importantly, members of the supervisory and management boards have confirmed that they do not have any personal interests in this transaction.

Harju Elekter's Strong Market Presence

Harju Elekter is not just an ordinary industrial firm; it's an international powerhouse with substantial know-how in delivering resilient electrical power distribution solutions. The company engineers, manufacturers, and installs cutting-edge electrification solutions tailored for utilities, diverse industries, and both public and commercial infrastructures. With factories in Estonia, Finland, Sweden, and Lithuania, Harju Elekter employs around 840 skilled specialists and reported a revenue of 174.7 million euros in 2024.

Leadership Contact Information

For any inquiries regarding the company or its recent activities, Tiit Atso, the Chairman of the Management Board, is available at +372 674 7400.

Frequently Asked Questions

What is the recent transaction involving Harju Elekter Group?

Harju Elekter OY has sold its 9.15% stake in IGL-Technologies Oy, aiming to focus on innovation in electric vehicle charging solutions.

Why did Harju Elekter decide to sell its holding in IGL-Technologies?

The decision aligns with their strategy to concentrate more on product development and advancing their next-generation chargers.

How long has Harju Elekter collaborated with IGL-Technologies?

The collaboration has lasted over ten years, highlighting a robust partnership in the development of charging solutions.

Will Harju Elekter continue to work with IGL-Technologies post-transaction?

Yes, Harju Elekter will maintain its partnership with IGL, despite selling the holding.

What is Harju Elekter’s financial standing?

The group reported a revenue of 174.7 million euros for 2024 and has a significant presence with factories in Estonia, Finland, Sweden, and Lithuania.

About The Author

Dedicated Author and financial expert Logan Wright here, 29 years old. After earning an economics degree, I spent a number of years working in different financial industries. My great passion is enabling everyone, from any background or experience level, to understand and be literate in financial matters.

My books and writings are centered on simplifying difficult financial ideas into doable, understandable guidance. Whether it's retirement planning, investing, or budgeting, I want to arm readers with the information they need to make wise financial choices and realize their financial objectives.

Apart from writing, I also frequently post to financial blogs and organize webinars and workshops targeted at enlightening participants about personal finance. Always, my strategy is to offer concise, doable advice that can truly improve people's lives.

Away from work, I like to read, travel, and sample new foods. My goal is to infuse everything I do with the balance that I think is essential to both financial and personal well-being. By my profession, I want to encourage and enable people to confidently and clearly take charge of their financial futures.

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