Harju Elekter
Commencement of negotiations

Harju Elekter 

30.04.2014 15:29

Dissemination of a Adhoc News, transmitted by DGAP - a company of EQS Group
AG.
The issuer is solely responsible for the content of this announcement.

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Estonia, 2014-04-30 15:29 CEST (GLOBE NEWSWIRE) -- AS Harju Elekter announces
that Satmatic Oy, the Group's subsidiary in Finland, has started negotiations
with Finnkumu Oy, Finland's largest pre-fabricated substation producer.
Successful negotiations will increase market share in Finland and may also lead
to the acquisition of the company's shares. 

Finnkumu Oy is a leading Finnish enterprise involved in the planning,
production and sale of electricity distribution devices, mainly pre-fabricated
substations and distribution cabinets. In 2013, the company's turnover amounted
to EUR 10.4 (2012: 6.6) million. 

Satmatic Oy is the leading producer of automated industrial equipment and the
importer and distributor of the Group's products in Finland. The company's
headquarters and plant are located in Ulvila. In 2013, the enterprise's
turnover amounted to EUR 19.7 (2012: 21.3) million, and there are 76 employees
working in the enterprise. 

Harju Elekter is the leading MV/LV electrical and engineering devices producer
in the Baltic States as well as well-known and respected in Scandinavia. Harju
Elekter Group includes manufacturers of electrical equipment in Estonia,
Finland and Lithuania: AS Harju Elekter Elektrotehnika (100%), Satmatic Oy
(100%) and Rifas UAB (63%), as well 
as the telecommunications products manufacturer AS Harju Elekter Teletehnika
(100%) in Estonia. In addition, AS Harju Elekter has a holding in the
affiliated company AS Draka Keila Cables (34%) and financial investments in the
Latvian electrical equipment sales company SIA Energokomplekss (14%) and in the
Finnish publicly listed company PKC Group 
Oyj (5%).





Andres Allikmäe
Manager
+372 674 7400
Additional information: Andres Allikmäe, Manager of AS Harju Elekter; Endel
Palla, Chairman of the Supervisory Board (+372 674 7400). 

Prepared by:
Moonika Vetevool
Corporate communication and investor relations manager
+372 671 2761
News Source: NASDAQ OMX



30.04.2014 DGAP's Distribution Services include Regulatory Announcements,
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Language:     English
Company:      Harju Elekter
              
               
              Estonia
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         EE3100004250
WKN:          
 
End of Announcement                             DGAP News-Service
 
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