FINLAND: Swedish company Eltel has expanded its railway business with the acquisition of Finnish signalling services company Celer Oy with effect from April 1.
Celer has 29 employees offering specialised signalling and safety services, with an annual turnover of €6m. Its activities include installation, corrective and preventive maintenance, project management, engineering and design. Customers include infrastructure manager Liikennevirasto, Helsinki Metro and various signalling and construction companies.
‘The acquisition of Celer is a great step forward for Eltel and is very much aligned with our strategic plan to expand in the Finnish market’, said Fredrik Häggström, President, Rail & Road, at Eltel. ‘Our customers have extensive investment plans and there are increasing needs to ensure sufficient competences and resources within this sector. Through this acquisition of Celer, Eltel can scale up its Finnish business and further develop cross border co-operation between our Eltel entities to be able to meet the needs of our customers.’