Arcteq Relays Ltd., celebrating the 10th anniversary this year, is investing in Vaasa.
Arcteq Relays, developer of protection and control products for electrical grids’ distribution and transmission networks, is moving to their new Vaasa headquarters located in the up-and-coming industrial area of Kivihaka.
Thanks to the large and modern production facilities Arcteq can now multiply its production and continue the strong growth towards the international leaders of protection relay technology.
” With our new factory we can significantly increase our production, and the company can continue to grow in the coming years as well. Our goal is that in 10 years we will be a renowned global leader in our field,” says Juha Arvola, Managing Director of Arcteq.
Arcteq has been growing fast since its founding in 2010. In 2019 the company reached a net sale of eight million Euro; compared to the previous year, the sales increased as much as 40 %. Currently, Arcteq’s wide range of products protects and improves electrical grids in over 50 countries. The main market areas are divided equally between the Nordic countries, Europe, Africa, the Middle East, the Americas, and Asia.
” We design and manufacture our products in Finland and export over 90 % of what we make. Our customers include national electrical grid companies and large private companies, for example, Eskom in South Africa and Repsol in Spain. We support the goal of increasing Finnish exporting,” commented Robert Olander, Arcteq’s Sales, and Marketing Director.
Arcteq employs 35 people in Vaasa. The company’s growth means that at least five more employees will be recruited every year. With the new factory, Arcteq wanted to invest specifically in Vaasa because the region has good networks with various energy businesses as well as a talent pool that fits the company’s needs.
” The quality of education here is high and fits perfectly in our field. Naturally, we grow here in Vaasa rather than anywhere else,” adds Arvola.