Oct 28, 2004
VTI Technologies prepares for growth - extension of the business premises reaches roof-top height on October 28th, 2004
The world leading manufacturer of motion sensors VTI Technologies
celebrates reaching the roof-top height of the new office and
production premises in Vantaa, Finland on Thursday, 28th of October.
The important building project, which doubles VTI's premises in Finland
to 24000 m2, started in January 2004 and has advanced according to the
schedule. Besides of the production space, the new building will have
office space for additional 300 people.
VTI's business growth prospects are positive due to the growth of the global sensor markets. "Electronic stability programs and other applications that increase safety and comfort are becoming more common in the automotive business, and different measuring needs are increasing in applications outside the automotive industry, which increases the demand for VTI's sensors that measure low acceleration and pressure", states VTI's CEO Hannu Martola. "The new production facility supports VTI's growth and enables the production of smaller, more economic and more versatile silicon sensors. The company's goal is to increase its net sales to 200 million euros by the end of the decade, while this year its net sales are more than 60 million euros."
In addition to the automotive industry VTI seeks growth in other industrial segments where measuring pressure and the different areas of acceleration - inclination, impact, vibration and angular velocity - create new opportunities. The market prospects are especially positive for measuring the pressure both in automotive industry and in other applications. The extension of the facilities under construction will bring VTI more capacity particularly for manufacturing pressure products.
VTI's business is based on skilful personnel and the core competences of the company are located in Finland. VTI has recruited almost 150 people in 2003-2004. With the extension of office and production premises, VTI anticipates employing additional 300 people in the following five years.
After the new premises located next to the current building are finished, VTI's production capacity in Finland can be brought up to more than 100 million smaller silicon sensor elements, while the production at the moment is 20 million sensor elements. The new building has seven floors and its gross area is 12756 m2 and volume 73 346m3, 1500 m2 of which is clean room of different classes. In addition, the building will have office space for 300 people, space for product development, meeting rooms, auditorium, personnel restaurant and social areas. The office space will be in use in April 2005 and production in the clean room spaces will start in end of 2006.
Tel. +358 9 87918240, tiina.hansson@vti.fi
Mobile +358 40 8278844
VTI's business growth prospects are positive due to the growth of the global sensor markets. "Electronic stability programs and other applications that increase safety and comfort are becoming more common in the automotive business, and different measuring needs are increasing in applications outside the automotive industry, which increases the demand for VTI's sensors that measure low acceleration and pressure", states VTI's CEO Hannu Martola. "The new production facility supports VTI's growth and enables the production of smaller, more economic and more versatile silicon sensors. The company's goal is to increase its net sales to 200 million euros by the end of the decade, while this year its net sales are more than 60 million euros."
In addition to the automotive industry VTI seeks growth in other industrial segments where measuring pressure and the different areas of acceleration - inclination, impact, vibration and angular velocity - create new opportunities. The market prospects are especially positive for measuring the pressure both in automotive industry and in other applications. The extension of the facilities under construction will bring VTI more capacity particularly for manufacturing pressure products.
VTI's business is based on skilful personnel and the core competences of the company are located in Finland. VTI has recruited almost 150 people in 2003-2004. With the extension of office and production premises, VTI anticipates employing additional 300 people in the following five years.
After the new premises located next to the current building are finished, VTI's production capacity in Finland can be brought up to more than 100 million smaller silicon sensor elements, while the production at the moment is 20 million sensor elements. The new building has seven floors and its gross area is 12756 m2 and volume 73 346m3, 1500 m2 of which is clean room of different classes. In addition, the building will have office space for 300 people, space for product development, meeting rooms, auditorium, personnel restaurant and social areas. The office space will be in use in April 2005 and production in the clean room spaces will start in end of 2006.
Further information:
VP, Corporate Communications, Tiina Hansson, VTI Technologies OyTel. +358 9 87918240, tiina.hansson@vti.fi
Mobile +358 40 8278844