PMJ acquires Greenhill Oy

PMJ acquires Greenhill Oy

Keywords PMJ, Greenhill Oy, Acquisition

PMJ automec Corporation has purchased the entire shares outstanding in the testing specialist Greenhill Oy. The acquisition will round out PMJ's testing expertise and total concept, and it is a continuation of PMJ's strategic decision to grow by way of acquisitions. Greenhill Oy operates in the Salo area in southern Finland. The company's line of business is the design and manufacture of adapter cards and cables for companies in the telecommunications field. Greenhill Oy had net sales last year of EUR 1.5 million and during the current year net sales are estimated to top EUR 2 million. Exports accounted for 50 percent of net sales. In 1999, Greenhill Oy had a payroll of seven employees. At present, it has ten employees, all of whom will remain in the employ of the new owner. Personnel strength is expected to grow further. Timo Vihervuori will stay on as the company's managing director and report to Hannu Seppälä,managing director of PMJ test solutions Oy.

Timo Vihervuori felt it was necessary to sell his company in order to be able to insure its growth in the global marketplace and to serve customers better abroad. PMJ is able to offer the resources needed to achieve these objectives.

The acquisition is estimated to have a positive effect on PMJ's net sales and earnings beginning this year.