OREANDA-NEWS. June 11, 2010. AS Harju Elekter affiliated undertaking AS Draka Keila Cables opened a factory extension, reported the press-centre of Harju Elekter.

AS Draka Keila Cables, an affiliated undertaking of AS Harju Elekter and a leading cable producer in the Baltic States opened a factory extension at the end of last week. AS Harju Elekter invested in the Draka Keila Cables production building and managed the construction work, as a result of which the production premises leased out to AS Draka Keila Cables increased by 3,700 m2 to 12,300 m2 and the external warehouse to 18,700 m2.

Low-voltage and energy cables are produced on a total of 15 production lines, two of which were added in the course of the expansion. The investments in Draka Keila Cables totaled EEK 25 million, as a result of which the output of the factory increased by 60%.

The turnover of Draka Keila Cables in 2009 amounted to EEK 399.43 million and exports totaled EEK 283.97 million or 71% of total sales. The owners of the company are the global leading cable group Draka Holding (66%) and AS Harju Elekter (34%). The clients of Draka Keila Cables are electricity networks, builders of electricity and television networks, industrial companies and wholesalers of electricity products.

The company was founded in December 1992, the founders were Nokia Cables from Finland (59%) and Estonian electro-technical company AS Harju Elekter (41%);

foreign investments exceeded USD 1 million, which according to the taxation legislation applicable then granted the founded joint venture tax exemption for three years and a tax incentive of 50% for three years. The production of power and installation cables complying with European standards commenced on the territory of AS Harju Elekter, following the complete renovation and installation of modern production lines, in the spring of 1993. At the inauguration of the factory, speeches were delivered by then Prime Minister of Estonia Mart Laar and the Chairman of the Management Board of Nokia Jorma Ollila. Cable production in Keila commenced in 1968, which AS Harju Elekter deems to be the beginning of its activities.

Harju Elekter is the leading producer of electrical equipment and materials in the Baltic States. Harju Elekter Group includes the manufacturers of electrical equipment in Estonia, Finland and Lithuania: AS Harju Elekter Elektrotehnika (100%), Satmatic Oy (100%) and Rifas UAB (51%), also the producer of telecommunications products AS Eltek (100%) and affiliated undertaking AS Draka Keila Cables (34%). Harju Elekter also has financial investments in the Latvian company selling electrical equipment SIA Energokomplekss (14%) and listed Finnish company PKC Group Oyj (8%).