September 3, 2020
DAILY BRIEF: Global logistics, lifts, large investments, acquisition and smart packaging
Kalmar reachstackers are heading to China.
All the daily Finnish business news that works: KONE, Uusikaupunki, Talenom, Kalmar and Finnish packaging make headlines.
KONE supplies a smart city project in Singapore, Yara invests substantially in Uusikaupunki, Talenom acquires a Swedish accounting firm, Kalmar wins global orders, and Finnish packaging does well in a Nordic competition.
KONE will deliver 62 elevators and 28 escalators to a business park development in Singapore’s Punggol Digital District. Developed by JTC and designed by WOHA Architects, the district is a 50-hectare smart and sustainable development that will showcase new concepts of living, working and services. The integrated business park will include 12-storey towers and a variety of innovative digital businesses.
Yara, a Norwegian chemicals company specialising in fertilisers and environmental protection agents, is investing around 28 million euros in a new raw materials storage facility at its factory in Uusikaupunki, Finland. The construction work will commence in 2021 and the facility become operational in 2022. The global operator has invested over one billion euros in Finland in 2008–2019, with some 255 million euros of the total going towards the expansion and modernisation of its Uusikaupunki factory.
Finnish accounting firm Talenom has agreed to acquire the entire share capital of Swedish accounting company Frivision for 15.1 million Swedish krona (1.4 million euros). The acquisition will strengthen Telanom’s position in Sweden with new locations in Gothenburg and Malmö, as well as support its strategic goal of entering the small customer segment. The deal includes an additional component of up to 6.4 million Swedish krona (0.6 million euros) that is payable if certain financial targets are reached.
Kalmar, part of Cargotec, has secured new orders from the US and China. The Finnish company will supply 20 hybrid shuttle carriers to The Port of Virginia, a deep water port on the US East Coast. Kalmar has a close partnership with the port and received a similar order a year ago. It has also concluded a deal to supply seven reachstackers to the rail intermodal terminals of China United International Rail Container (CRIntermodal) in Kunming, Xi’an and Qingdao, China.
Finnish packaging solutions have been named as some of the best in the Nordics at ScanStar, a packaging competition organised annually since 1969 by the Scandinavian Packaging Association (SPA). Read our full report by clicking the headline.
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