Harju Elekter
The subsidiary of AS Harju Elekter signed a large volume contract

Harju Elekter 

22.10.2013 07:53

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Estonia, 2013-10-22 07:53 CEST (GLOBE NEWSWIRE) -- AS Harju Elekter's
subsidiary AS Harju Elekter Elektrotehnika won the public procurements for
purchasing substations organised by Eesti Energia's subsidiary Elektrilevi OÜ.
As a result of successful negotiations, two large-scale framework agreements
with a term of validity of three years were signed. According to the terms of
the agreement, the agreements shall be extend automatically on two occasions
for a term of one year, if the parties do not notify a wish to terminate the
agreement. 

According to the signed agreements, AS Harju Elekter Elektrotehnika shall
supply OÜ Elektrilevi within three years with about 2,000 pre-fabricated 1- and
2-transformer substations. The supplied automated substations are, thanks to
technological developments, becoming an integral part of the 'smart grid',
allowing for the remote management of substations and the monitoring of
electricity quality. Devices used in substations allow for a partial
self-recovery of the grid in case of a failure, meaning that the self-healing
system allows one to reduce the scope and duration of blackouts resulting from
failures, at the same time checking the grid's status at any moment and being
able to prevent future failures. Substation supplies are directed to the
Estonian market. 

Harju Elekter is a leading manufacturer of electrical equipment and materials
in the Baltic States and well-known producer in Scandinavia. Harju Elektri
Grupp includes the 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 manufacturer of telecommunications products AS
Harju Elekter Teletehnika(100%) and the sales representative  Harju Elekter AB
(90%) in Sweden. Harju Elekter also has a related company AS Draka Keila Cables
(34%) as well as financial investments in the Latvian seller of electrical
equipment SIA Energokomplekss (14%) and the Finnish company PKC Group Oyj (5%). 

Andres Allikmäe
CEO/Managing director
Tel: +372 674 7400

Additional information: Manager of AS Harju Elekter Elektrotehnika Ülo Merisalu
(Tel +372 674 7449).
News Source: NASDAQ OMX



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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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