Photonium Oy aquires the majority shareholding in Akseli Lahtinen Oy.
Jan 11, 2008
Photonium Oy, located in Lohja Finland, has purchased 55% of Akseli Lahtinen Oy, located in Mikkeli Finland. The shares were acquired from Laskentaneliö Ky, Tuomo Honkanen and Rauno Suoniemi, who each sold 18% of their shareholding in the company. Photonium also has the option to purchase the remainder of the shares within a 3 year period.
Akseli Lahtinen has over 20 years experience in the design and manufacture of complex automation products. The company currently employs 12 people and has a turnover of 1.2 million €. One of the key company developments is a servo driven punching and cutting unit for metallic bars. These units will now be sold under the Photonium brand through their international sales network.
"Akseli Lahtinen has excellent resources to manufacture prototypes for Photonium's new standard products. With Photonium's goal of bringing a new product to market every 3 months, this acquisition ensures that we have one of the key resources necessary to achieve this. At the same time this transaction will increase Photonium's resources in R&D." Says Markku Jokela, Photonium's CEO.