RAUTE CORPORATION INSIDE INFORMATION JUNE 16, 2020 at 3:30 p.m.
RAUTE CORPORATION STRENGTHENS ITS KNOWHOW IN DIGITALIZATION BY ACQUIRING MAJORITY HOLDING IN HIOTTU OY
Raute Corporation has today signed an agreement on the acquisition of the majority of the share capital in Oulu-based Hiottu Oy. The shareholders employed by Hiottu will continue working for the company.
Hiottu, established in 2005, is a company offering software services with special knowhow in various machine vision solutions and other system solutions for demanding industrial environment. Hiottu’s services include software consulting and project management, machine vision programming and systems, industrial programming, and web programming.
Hiottu Oy complements Raute’s knowhow in digitalization and the acquisition of the company is part of the previously reported investment in digitalization. Hiottu has previously been Raute’s cooperation partner. Hiottu’s net sales in 2019 were EUR 0.8 million and it employs 11 persons.
Hiottu’s business will be continued as a separate limited company in Oulu and all employees will continue in the company as former employees. Like previously, Hiottu continues to serve also customers outside the Raute Group. Ms. Satu Lapinlampi continues as Managing Director of the company.
The acquisition is carried out as a share transaction, after which Raute’s holds 80 percent of the company shares. Mr. Kari Lapinlampi, one of the founders of the company, holds 20 percent of the company after this transaction and will remain with the company, too. The terms of acquiring also the minority holding through an additional agreement after a transition period have been agreed on in the terms and conditions of the agreement closed today.
Tapani Kiiski, President and CEO says: “The acquisition of Hiottu is an investment in the digitalization in line with our strategy and it strengthens for its part Raute’s excellent machine vision knowhow. Hiottu will be part of our Metrix business, which includes also Mecano Group Oy and Metriguard Inc which have been acquired previously."
This transaction has no impact on Raute's outlook for 2020. Raute’s net sales for 2020 are expected to decrease compared to 2019 and operating profit is expected to weaken clearly year-on-year.
RAUTE CORPORATION
Tapani Kiiski
President and CEO
FURTHER INFORMATION:
Mr. Tapani Kiiski, President and CEO, mobile phone +358 400 814 148
Ms. Tarja Järvinen, Group Vice President, Finance, CFO, mobile phone +358 40 658 3562
DISTRIBUTION:
Nasdaq Helsinki Ltd, main media, www.raute.com
RAUTE IN BRIEF:
Raute is a technology and service company that operates worldwide. Raute’s customers are companies operating in the wood products industry that manufacture veneer, plywood, LVL (Laminated Veneer Lumber) and sawn timber. Its technology offering covers the entire production process for veneer, plywood and LVL and special measurement equipment for sawn timber. As a supplier of mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Additionally, Raute’s full-service concept includes technology services ranging from spare parts deliveries to regular maintenance and equipment modernizations. Raute’s head office is located in the Nastola area of Lahti, Finland. The company’s other production plants are located in Kajaani, Finland, the Vancouver area of Canada, the Shanghai area of China and in Pullman, Washington, USA. Raute’s net sales in 2019 were EUR 151.3 million. The Group’s headcount at the end of 2019 was 778. More information about the company can be found at www.raute.com.