VTI Hamlin becomes VTI Technologies

The change of ownership of VTI Hamlin was finalized on 26 June 2002 after getting approvals from the regulatory authorities. BREED Technologies, Inc. has sold the entire share capital and business of VTI Hamlin to EQT Northern Europe private equity fund. The acquisition consists of all VTI business activities in Finland, Germany and USA, as well as a product line employing 250 people in Mexico, which will become a Mexican subsidiary of VTI Technologies.

After the closing of the acquisition VTI Hamlin Oy changes its name. The new name, VTI Technologies Oy, will be used as of 1.7.2002.

A new Board of VTI Technologies Oy will include Hasse Johansson (Chief Technical Officer, Scania AB), Thomas von Koch (Partner, EQT Partners), Tuomo Lähdesmäki (Member of the Board e.g. Amer Oyj, Aspocomp Oyj and Orion Oyj), Andreas Tallberg (Senior Partner, EQT Partners) and Peter Wallenberg, Jr (President and Chief Executive Officer, Grand Hotel Holdings AB).

VTI Technologies is a leading designer and manufacturer of silicon capacitive inertial sensors. VTI's business has been rapidly growing and the company turnover will be 60 MEUR in the fiscal year ending in June 2002. VTI's target is to achieve over 20% annual growth during the coming years. The change of ownership offers VTI the possibility to invest in research, engineering and marketing according to the growth strategy. VTI's vision is to be a forerunner in measuring human scale motion.

Related files:

• 2Q06_liitetiedot_suomi.pdf