Harju Elekter

M&A Activity • Feb 11, 2021

Company Type Category Disclosure time AS Harju Elekter Group Company Release Other price sensitive information 11 Feb 2021 14:45:50 +0200

Harju Elekter to conclude an important agreement in Sweden Title Currency EUR - Euro

On 10 February 2021, Harju Elekter Group's Swedish subsidiary Harju Elekter AB signed a framework agreement with E.ON Energidistribution AB, the largest distribution network company in Sweden. According to the agreement, approximately 1,500 substations will be supplied over the period of three years, and the total volume of the agreement is nearly 15 million euros.

The substations will be produced in the factory of AS Harju Elekter Elektrotehnika in Estonia. The manufacturing of substations by Harju Elekter Group's factory in Estonia has increased significantly over the past few years, reaching an average of 2,000 substations per year today.

E.ON Energidistribution AB is the largest electricity distribution company in Sweden, with more than 44,000 substations in its electricity network. Countrywide, E.ON Energidistribution AB provides electricity to over 1,000,000 private and corporate customers in Sweden. Its parent company, E.ON, is an international privately-owned energy supplier focusing on renewables, energy networks, and customer solutions, which are the building blocks of the new energy world.

Harju Elekter is an international industrial group with more than 50 years of experience, and with its main activity being the development and production of electrical and automation solutions. The main activity is supported by the sheet metal production factory in Estonia, as well as the development and leasing of industrial real estate. The customers of Harju Elekter are predominantly large distribution network, industrial, and maritime companies in the Nordic countries. The factories in Estonia, Finland, Sweden, and Lithuania employ approximately 800 specialists, and the Group's sales revenue for the first nine months of 2020 was 111.4 million euros. The shares of Harju Elekter are listed on the Nasdaq Tallinn Stock Exchange.

Tiit Atso Chairman of the Board +372 674 7400

Additional information: Mikael Schwartz Jonsson, Managing Director of Harju Elekter AB, +46 73 870 01 51

Finantsinspektsioon http://www.fi.ee

Marit Tack Corporate Communications Manager +372 671 2761 Email: marit.tack@harjuelekter.com

Finantsinspektsioon http://www.fi.ee