May 17, 2019
The daily brief: 17 May 2019
Valmet has received orders from China and Germany this past week.
All the daily Finnish business news that works: Halton, Kodit.io, Nokia, Valmet and Kalmar make headlines.
Finnish company Halton will open a new production unit in the US, Kodit.io has received a financial boost, Nokia is setting up 5G infrastructure in Qatar, Valmet is involved in projects in China and Germany, and Kalmar has won a contract in Malaysia.
Finnish company Halton is set to open a new 3 700 square-metre production unit in close proximity to its existing 8 000 square-metre plant in Kentucky, the US. The new factory will focus on the manufacture of air handling units, make-up air units and exhaust air pollution control systems for commercial kitchens. By expanding production to include air handling units, Halton aims as part of its new growth strategy to increase sales of customer-oriented total solutions and double its market in North and South America. The total investment in the new plant is about eight million US dollars.
AI-based service Kodit.io has raised three million euros in equity financing and also received a loan of nine million euros. Homerun Technologies developed the Kodit.io service, which gives a cash offer to homeowners, renovates the property and sells it forward. The loan from Sweden’s Collector Bank serves as a starting point for a real estate fund managed by Homerun Technologies.
Nokia has been selected by Ooredoo Qatar to build a 5G cloud-native core network in Ooredoo’s data centres in capital Doha. The deployment will support Ooredoo’s ability to deliver enhanced mobile broadband services. The Qatar-based communications company has already tested a number of 5G use cases, such as 5G aerial taxis and drones. Nokia’s solution will take Ooredoo even closer to bringing innovative 5G use cases to its customers.
Valmet will supply boiler diagnostic systems to Harbin Boilers’ Fugu power plant in China. The two acoustic pyrometer systems will be delivered during the second quarter of 2019. The value of the order has not been disclosed. Meanwhile in Germany, Valmet is also replacing the process and quality controls of Delkeskamp’s cartonboard machine BM1 in Nortup. An automation system delivery of this type is usually worth around two million euros.
Kalmar, part of Cargotec, has been awarded a contract to extend the lifespan and capabilities of two unloader cranes belonging to Malaysian flour-milling company Malayan Flour Mills Berhad (MFM). The comprehensive refurbishment will extend the lifespan of the cranes by five years, with Kalmar’s work scheduled to be ready in the beginning of 2020. The cranes at MFM’s Lumut facility in Malaysia are used to unload raw materials from ships.