Ensto Ensek AS (Ensto) and Plastone OÜ (Plastone) have signed a subcontracting agreement on October 23, 2018 that covers manufacturing of Ensto's plastic components as of January 1, 2019. In connection with this transaction, Ensto sells its injection moulding machinery and rents its Tallinn plant to Plastone.
Being one of the leading injection moulding companies in Nordics and Baltics, Plastone is a reliable longtime partner for Ensto. Plastone will provide more manufacturing volume to Tallinn plant and has plans to invest in the development of operations. The utilization rate of machinery and therefore the overall efficiency will improve.
"For us, this is an important part of implementing our strategy on our way to become a recognized electrical solution provider, and it enables us to focus more on our core competencies as a technology company. This further improves our enclosures competitiveness to better meet the increasing demand and to expand our enclosure portfolio. After several decades of our cooperation, Tallinn's injection moulding manufacturing will move to Plastone, and we trust that the good cooperation will continue to develop", says Ari Virtanen, CEO of Ensto Group.
"This transaction is a significant step for Plastone and it brings us to a whole new level, enabling us to serve our customers on a wider scale. In addition, this will give us great opportunities for growth, also with a view to future needs. Ensto's plant is modern and very well managed. By combining our know-how and best practices, we are able to further develop our business to a better level for our customers", says Jari Vuorinen, Managing Director of Plastone.
The transfer of the ownership of the machinery will take place on January 1, 2019 and the transaction is scheduled for completion by April 1, 2020. Personnel affected by these changes will be offered new jobs either by Ensto or by Plastone.
For further information, please contact:
Ari Virtanen, CEO of Ensto Group, tel. +358 40 043 5878, email@example.com
Jari Vuorinen, Managing Director of Plastone, tel. +358 50 309 2659, firstname.lastname@example.org
Ensto in Brief:
Ensto designs and provides smart electrical solutions to improve the safety, functionality, reliability and efficiency of smart grids, buildings and transportation. Ensto, an international technology company and a family business, was founded in 1958 and employs ca. 1,600 passionate professionals in Europe, the USA and Asia. In 2017, we generated turnover of 261 million euros. We believe in a better life with electricity and a more sustainable tomorrow.
Plastone in Brief:
Plastone is an innovative and reliable supplier of precision injected molded products. Plastone’s main customers are global market leaders in the fields of healthcare and electrical appliances. With a turnover of EUR 17 million, Plastone employs 140 people and has production facilities in Nurmijärvi, Finland as well as Saue and Haapsalu in Estonia. Plastone is part of the environmentally responsible and growth driven Saxo group, owned by the Björnberg family.