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Seppo Rajamäki and Jussi Vanhanen to join the Board of Directors of Peikko Group Corporation

Press release 19.04.2011

Two new members will join Peikko Group Corporation's Board of Directors: Mr. Seppo Rajamäki and Mr. Jussi Vanhanen.

Mr. Seppo Rajamäki has made a noteworthy career in the precast concrete industry, both in Europe and in Saudi Arabia. Mr. Rajamäki retired in spring 2010 after a long career in the world largest precast company Consolis, headquartered in Brussels, Belgium. At Consolis his last position was Group Vice President, Baltics and Eastern Branch. Mr. Rajamäki remains active in the field of construction and has number of board memberships. Mr. Rajamäki brings Peikko's Board solid knowledge of the construction market, particularly from the precast market segment.

Mr. Jussi Vanhanen is President, Engineered Materials Business Group at UPM-Kymmene Corporation, a company headquartered in Finland and focusing on forestry related products. He is responsible for a business group with sales amounting to some EUR 1,5 billion. Mr. Vanhanen brings Peikko's Board knowledge of running global operations with multiple production places, also in market areas where Peikko is not yet present.

In connection with the entry of two new Board members, two of the current Board members will discontinue their service: Mr. Mika Halttunen, Chairman of Halton Group (Board member 2005-2010) and Mr. Jalo Paananen, the founder of Peikko Group and active in the company since 1965.

Four of the current Board members continue to serve the Board. Mr. Elmar Paananen, CEO of Troll Capital Oy, continues as the Chairman of the Board. Mr. Pekka Rantamäki, CEO of Teknos Group, Mr. Risto Räty, Executive Vice President, Building and Construction, Tekla Corporation, and Mr. Risto Vahanen, Chairman of the Board of Vahanen Group continue as Board members.

"The changes in Peikko's Board of Directors are significant. We are privileged to have two new highly competent and talented members. We would also like to thank the both retiring Board members for their contribution in developing Peikko Group. The fact that the company's founder Jalo Paananen is leaving the Board highlights that Peikko is now in the hands of the second generation of the owner family", states Topi Paananen, CEO of Peikko Group Corporation.

Further information:
Topi Paananen, CEO, Peikko Group Corporation, Tel. + 358 50 384 3001, email: topi.paananen@peikko.com

 

Peikko Group Corporation is a Finnish family-owned company specializing in composite beams and fastening products for concrete connections. Peikko Group has subsidiaries in Austria, Canada, China, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Italy, Latvia, Lithuania, the Netherlands, Norway, Poland, Russia, Saudi Arabia, Slovakia, Spain, Sweden, Switzerland, Turkey, the United Arab Emirates and the United Kingdom. The production facilities of Peikko are located in China, Finland, Germany, Lithuania, Russia, Slovakia, United Arab Emirates, and the United Kingdom. Peikko employs more than 700 people. Further information: www.peikko.com.