Formia Technology Group Oy renewed its organisation

Formia Technology Group has started to go through the rearrangements concerning the whole company, the first part of which has been the modernising of the politics. The composition of the affiliates' boards has also been changed, so that in future the executive group of the consolidated corporation will constitute the board of all the affiliates. The directors of the business units will be responsible of the units' business.

In connection with this, Petteri Korpioja, M.Sc. (Eng.), has been appointed to the duties of the President and COO of Formia Technology Group parent company and all the affiliates. Petteri Korpioja has earlier worked as a production director in Rautaruukki Plc, Ruukki Construction Division, CEE area (Poland, Romania, Slovak Republic, Czech Republic, Ukraine and Hungary).

In the same connection, the following appointments are made:

Seppo Torvinen, Dr.Tech, has been appointed as CTO of Formia Technology Group. Seppo Torvinen has earlier worked as a Professor in Tampere University of Technology's (TUT's) Institute of Production Engineering.

Burak Kirman, M.Sc. (Eng.) has been appointed as CPO of Formia Technology Group. Burak Kirman has earlier worked as a person in charge for engineering industry in Finpro Turkey.

Timo Liukko, Licentiate of Technology (Engineering), has been appointed as substitute CFO of Formia Technology Group. Timo Liukko is also a member of the Formia Technology Group board. Timo Liukko has been working as a management consultant in engineering industry for years.

Markku Palviainen, Logistics Engineer has been appointed as Business Unit Director of Formia Construction (solutions based on rollforming technology for the construction industry). Markku Palviainen has earlier worked as a sales director of Formia Construction.

Kari Anttila, Construction Engineer, has been appointed as substitute Business Unit Director of Formia Vesme (automatic material handling solutions for environmental, energy, engineering, automation and paper industry). Kari Anttila has earlier worked as a sales director in Vesme Systems Oy.

Mika Vinni, M.Sc. (Eng.), has been appointed as Business Unit Director of Formia Lakeus (components, modules and system deliveries for the mechanical engineering industry). Mika Vinni has earlier worked as a director responsible for Finn-Power co-operation in Vesme Systems Oy.

Tomi Knaapila, Mechatronics Engineer, has been appointed as Business Unit Director of Formia Service (installation, service, maintenance and usability solutions). Tomi Knaapila has earlier worked as a project engineer in Vesme Systems Oy.

"Intention of the rearrangements is to clarify organisational structure and the job descriptions as well as ensuring the company's operative cost-effectiveness and enabling group growth. In practice this will also show in a closer cooperation between the units, in the centralising of purchasing and in strengthening the service of the key customers", says Jukka Salminen, Chairman of Formia Technology Group.

"Our international and experienced executive team and the renewed matrix organisation can ensure us a good position in competition situations, where there is a clear trend of a remarkable growth in the company size in both of our sectors, subcontracting and as a machine and logistics system supplier.

Through company rearrangements and strong organic growth during the last three years, critical mass has been created for the company with the goal of turning the company into a sufficiently large actor, so that we can be a credible partner for our chosen customers also in the future" says Petteri Korpioja, the new President and COO of Formia Technology Group.

ADDITIONAL INFORMATION

Jukka Salminen, Chairman, Formia Technology Group Oy, mobile phone +358 (0)50 501 2780, jukka.salminen@formiatech.com

Petteri Korpioja, President and COO, Formia Technology Group Oy, phone +358 (0)207 577 330, petteri.korpioja@formiatech.com

FORMIA IN BRIEF

Formia Technology Group Oy is a global turnkey supplier of

• solutions based on rollforming technology for the construction industry (Formia Construction Oy),
• components, modules and system deliveries for the mechanical engineering industry (Formia Lakeus Oy), and
• automatic solutions for environmental, energy, engineering, automation and paper industry utilizing materials handling (Formia Vesme Oy)

The Formia's pro forma revenue in 2007 was 27,2 million euros (23,0 million euros in 2006, 17,5 million euros in 2005 and 15,6 million euros in 2004) and it employs 165 people. Formia's Centers of excellence are located in Jyväskylä, Seinäjoki and Kauhajoki (Finland). Formia also has manufacturing operations and a Design Center in Nanging China and a maintenance unit in St Petersburg Russia.

In addition, a Canadian based rollforming systems manufacturer, Samco Machinery (www.samco-machinery.com) and Formia have formed a global strategic alliance, which brings these two companies together (R&D, sourcing, production, marketing, sales and service). Samco and Formia are global suppliers of rollforming systems with a local presence.