Annual Report 2007 - Panostaja

2 |
Takoma Oyj
Finland needs super-subcontractors
Takoma aims to be the top
mechanical engineering partner
ON 11 TH NOVEMBER 2007, PANOSTAJA OYJ ESTABLISHED A NEW LISTED MECHANICAL ENGINEERING
GROUP. LIKE PANOSTAJA, THE NEW TAKOMA GROUP IS BASED ON AN ENTREPRENEUR-DRIVEN
BUSINESS MODEL. ‘I USED TO BE AN ENTREPRENEUR BEFORE AND I STILL FEEL LIKE ONE,’ SAYS
TAKOMA MANAGING DIRECTOR AND SHAREHOLDER KIMMO KORHONEN, A MECHANICAL ENGINEERING
PROFESSIONAL OF LONG STANDING.
Managing Director Kimmo Korhonen
The Finnish mechanical
engineering industry needs
larger subcontracting
businesses. Kimmo Korhonen
is working with Panostaja to
develop Takoma into a strong
expert in the field.
International mechanical engineering companies are searching for partners capable
of assuming greater responsibility for overall processes. At the same time, several
small subcontracting workshops are seeking solutions to safeguard their continuity as
entrepreneurs are getting older. This is the opportunity that Panostaja and Kimmo Korhonen
wanted to seize. ‘This is a great opportunity to start creating new, larger business operations
and thus be involved in building a major Finnish mechanical engineering company.’
PANOSTAJA’S ENTREPRENEURIAL MODEL BRINGS SECURITY
Takoma Oyj serves its customers in three industries. The hydraulics industry is based on a
company called Tampereen Laatukoneistus, while the subcontracting industry builds upon
Hervannan Koneistus, a company formerly run by Kimmo Korhonen. The third industry will
focus on manufacturing the company’s own technology products. ‘The three industries will
balance out cyclical fluctuations and bring significant synergies. Takoma will also be further
developed through future business acquisitions,’ Mr. Korhonen explains.
Running a business within Panostaja does not mean toiling on your own. In addition to
Panostaja’s financial resources, another factor that brings security to the owner-manager’s
daily work is involvement on the Board, which allows them to share experiences and make
use of expertise in different fields.
SUBCONTRACTORS NEED TO GROW TOO
The outlook for the mechanical engineering industry is good. Takoma’s customers have
reported record-breaking order books. In addition to subcontracting, Takoma is also directly
introducing its expertise into the international market. About 70% of cylinders designed
and dimensioned within the company are exported direct to other countries.
Under considerable competitive pressure, businesses have realised the importance of
subcontracting expertise. Indeed, Panostaja intends to expand Takoma into a ‘supersubcontractor’
rapidly. ‘It makes more sense even for a large company to focus on core
competence, rather than trying to do everything by itself. Other functions and components
can be bought from specialised partners. In fact, the Finnish mechanical engineering industry
needs larger subcontracting businesses capable of investing in the latest technology and
internationalising alongside their clients,’ says Mr. Korhonen.
Hervannan Koneistus Oy’s net turnover amounts to about EUR 11 million, while the
corresponding figure for Tampereen Laatukoneistus Oy is about EUR 6 million. The principal
shareholders aim to increase Takoma Oyj’s net turnover to the order of EUR 100 million
within a period of five years. ‘We are well positioned for strong growth,’ assures Mr.
Korhonen. Initially, Takoma Oyj’s equity and cash reserves amount to about EUR 20 million
and more than EUR 10 million, respectively.