Posts Tagged ‘industry’
KONE and TKE to combine, creating a world-class company in the elevator and escalator industry
KONE Corporation and a consortium led by Advent and Cinven, through their jointly controlled holding company Vertical Topco I S.A., have entered into an agreement to combine KONE and TKE in a cash and share transaction.
This industry-revitalizing transaction brings together two exceptional global businesses with highly complementary geographic footprints and innovation platforms. The combined group would have a balanced global presence, leading service and modernization capabilities, and the resources to accelerate the development of new solutions and digital services. As such it would be in a better position to meet its customers’ rising demand for safe, sustainable and data driven urban vertical transportation solutions. The combination would offer substantial value creation from realized synergies, estimated to be approximately EUR 700 million on an annual run-rate basis, benefitting customers and shareholders alike.
Read full announcement (external link)
Originally published on 29 Apr
Read MoreRoyal Caribbean Group Confirms Order with Meyer Turku for Icon 6 and 7
Royal Caribbean Group (NYSE: RCL), a global vacation leader redefining the future of vacations, today announced it has confirmed with Meyer Turku the order of a sixth and seventh Icon Class ship to be delivered in summer 2029 and summer 2030, respectively.
The order is part of the company’s long-term framework agreement with Meyer Turku that secures the Group’s access to shipbuilding capacity through 2036 and includes the previously announced Icon 5 order to be delivered in 2028. Meyer Turku has been a key partner in developing the award-winning Icon Class, helping to bring to life the most innovative ships ever built and advancing the next generation of vacation experiences. The Icon 7 order is subject to customary conditions, including financing.
Read full announcement (external link)
Originally published on 27 Apr
Read MoreEIB lends €250 million to KONE for next-generation elevators and smart people-flow technologies
The European Investment Bank (EIB) is lending €250 million to Finnish elevator and escalator company KONE to accelerate research, development and innovation in advanced building mobility technologies. The financing will support the development of next-generation elevators, escalators, auto-walks and intelligent digital solutions designed to optimise the movement of people in modern buildings and urban environments.
The EIB loan will support KONE’s research and innovation programme between 2026 and 2029. The activities focus on improving safety, performance and energy efficiency in elevators and escalators, while developing intelligent technologies that help manage people flow in increasingly complex urban environments.
Read full announcement (external link)
Originally published on 23 Apr
Read MoreFFS2 project delivers solutions to decarbonise steel production
VTT has published its key results from the national Towards Fossil‑Free Steel (FFS2) project as part of the consortium final report. VTT’s work in FFS2 focused on solutions that help steel producers replace fossil fuels and make full use of industrial side streams in a future fossil‑free value chain.
The transition to fossil free steel requires not only new energy sources, but also system level solutions that work on an industrial scale. In the FFS2 project, VTT has addressed this challenge by developing and validating technologies that integrate electrification, hydrogen and circular material flows into existing and future steelmaking processes. The results strengthen the technological basis for industrial decision making and support a faster, lower risk transition towards fossil-free steel production
Read full announcement (external link)
Originally published on 7 Apr
Read MoreInsta to Modernize Cranes at Meyer Turku Shipyard
Insta is modernizing the overhead cranes in the production hall at the Meyer Turku shipyard as part of the shipyard’s extensive renewal program. The modernization of two 2 × 25 ton overhead cranes will improve crane usability and support the shipyard’s competitiveness.
Insta has signed a significant agreement with Meyer Turku shipyard covering the electrical modernization of two hall cranes. In the project, the technology of the two 2 × 25‑ton overhead cranes—largely in its original condition—will be upgraded to meet today’s requirements and production expectations. The modernization will enhance both the usability and operational reliability of the cranes.
Read full announcement (external link)
Originally published on 7 Apr
Read MoreEstonian Parliamentary delegation visits Baltic Workboats
On February 13, Baltic Workboats welcomed representatives of the Estonian Parliament’s Defence Industry Support Group to out shipyard in Nasva, Saaremaa. The visit formed part of a broader programme focused on strengthening cooperation between the public sector and domestic defence industry.
The delegation included members of the Defence, Finance and Foreign Affairs Committees: Raimond Kaljulaid, Kalev Stoicescu, Leo Kunnas, Henn Põlluaas and Riina Sikkut. They were received by Baltic Workboats’ CEO Margus Vanaselja, Board Member Ahto Pärl, Sales Representative Jüri Taal and EUROGUARD Project Manager Jüri Saska.
Read full announcement (external link)
Originally published on 6 Apr
Read MoreInsta at Northern Industry event 2026 – discover our automation and software solutions
The Northern Industry event offers visitors a comprehensive overview of industrial services, products and the latest insights. Come and talk with our experts and experience how data and automation turn into real value in production!
Northern Finland’s largest industrial event, Northern Industry 2026, will take place at Oulu Hall on 20–21 May 2026. The event brings together more than 300 exhibitors and professionals across various industrial sectors, offering a wide overview of current themes such as energy, hydrogen economy, maintenance, mining industry and operational reliability in modern industrial environments.
Read full announcement (external link)
Originally published on 5 Mar
Read MoreIndustrial metaverse and AI drive Finland’s tech leadership
Innovation in Finland defines the way business operates. The country fosters ecosystems where global players connect, and technology leadership spans AI, connectivity, electrification, and defense. For international investors and partners, Finland offers advanced solutions and a collaborative model that accelerates impact.
“We are living in an AI supercycle,” notes Nokia’s Veli-Pekka Luoma, emphasizing Finland’s shift from connecting people to connecting intelligence. This vision is backed by robust infrastructure, cutting-edge R&D, and a commitment to sustainability.
Read full announcement (external link)
Originally published on 2 Feb
Read MoreMAN Engines strengthens its presence in the Baltic States: Adampolis becomes importer of power and marine engines
MAN Engines expands its sales and service network in Estonia, Latvia and Lithuania and entrusts Adampolis, UAB, as its new importer for the Power and Marine segments. Headquartered in Kaunas, Lithuania, the company has been established for many years as an importer of MAN trucks, buses and vans in the Lithuanian market and Finland and has a close-knit network of six locations in Lithuania; the presence in Estonia and Latvia is being expanded in a targeted manner.
As an importer for MAN Engines, Adampolis is responsible for sales, service and spare parts supply for MAN engines for power generation or power and heat generation, for emergency power generators and engines for workboats and yachts in the aforementioned markets. The partnership with the new importer status builds on an already long-standing cooperation in the service business and will be further intensified together with MAN Engines through training and the development of specific competencies for marine and gas engines. “Based on our successful cooperation, we are creating tangible added value for our customers in the Baltic States together with Adampolis. The new importer solution combines experience, proximity to the market and consistent service orientation,” says Jürgen Haberland, Head of Services & Network MAN Engines.
Read full announcement (external link)
Originally published on 14 Jan
Read MoreNew industrial development area and railway infrastructure available for investment in Valmiera – Valmiera Industrial Park is completed
Construction has been completed at Valmiera Industrial Park, which is an infrastructure of national importance – a railway siding and internal railway, a cargo loading/unloading (logistics) site, and an industrial electricity connection have been put into operation. The rest of the infrastructure intended for exporting manufacturing companies operating in smart specialization (RIS3) sectors, creating products with high added value, has also been completed. The newly built railway infrastructure will strengthen the role of Valmiera region in the European transport network, consolidating its position as an important connection point between regions and the Baltic States.
Valmiera Industrial Park, operating as Latvia’s first domestic multimodal logistics center, will promote economic growth and export capacity in Vidzeme. This will be a significant stage of development and change in the transport and storage sector, as companies in Vidzeme and South Estonia will be able to optimize their supply chains while reducing transport costs and emissions, as well as the load on roads. The potential of the new and competitive railway infrastructure and the extensive concrete logistics area has also been dubbed Latvia’s first “dry port” (i.e., inland intermodal terminals directly connected to seaports by road or rail).
“Targeted investment in business development is always necessary to promote growth and maintain competitiveness. The development of the Valmiera Industrial Park has been purposefully planned since 2014, implementing this idea gradually and thoughtfully to ensure maximum return on invested resources in the long term. It is planned that at least three export-oriented companies will start operating in the area to be developed under the project, creating new jobs and making significant investments in business. These are historically the largest investments in the development of the Valmiera region, which will make a significant contribution to both the region’s economy and the well-being of its residents. At the same time, in parallel with the development of business infrastructure in the municipality, we continue to invest in affordable housing and competitive education to ensure a timely supply of qualified specialists to the labor market,” says Jānis Baiks, Chairman of the Valmiera Municipality Council.
Read full announcement (external link)
Originally published on 17 Dec
Read More