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Head Invest Ltd to Acquire JOT Automation Ltd.

OULU, Finland, May 5, 2011 /PRNewswire/ -- Head Invest Ltd has acquired all shares in Finnish JOT Automation Ltd from German Rohwedder AG. Head Invest Ltd aims to establish Head Tech Ltd by merging JOT Automation Ltd with Master Automation Group Ltd, which is already owned by Head Invest Ltd.

JOT Automation Ltd is a production automation company established in 1988 by Veikko Lesonen, Chairman of Head Invest Ltd.'s Board of Directors. "Ten years ago, I left the company which represents global technological expertise at its best. It feels wonderful to bring it back home and under Finnish ownership," says Lesonen, who will also act as Chairman of Head Tech Ltd.'s Board of Directors.

JOT Automation is one of the world's leading suppliers of testing systems for the mobile phone and automotive industries. Master Automation Group Ltd is the world's leading technological supplier of assembly and finishing solutions that utilise computer vision for the mobile phone, marine and aerospace industries. Head Tech Ltd's customers include a number of market leaders within various business fields. As a new customer segment, the company is directing its services towards manufacturers of life science equipment.

Mikko Sipila (MBA, born 1954), CEO of JOT Automation Ltd, has been appointed as CEO of Head Tech Ltd: "By merging two companies, we can serve our customers with a greater number of experts, and through a more extensive product and technological portfolio. This also expands our international presence. Several customer fields produce a balanced entity where customers can utilise the best practices through our services."

Head Invest Ltd.'s objective is to develop Head Tech Ltd into an innovative automation and solution supplier for industries that are at different stages of growth, and an automation company which serves its customers globally. "Over the past decade, the automation industry has largely been affected by the transfer of production from developed countries to cheap labour areas. The next big wave concerns the automation of production in these countries. This process will be driven forward by environmental, quality and material efficiency requirements, increasing salary costs and technological development. An increase in the automation rate is also a response to obtaining more profitable production in developed countries where salary costs are higher. This comprises an industry of the future which never runs out. Our aim is to become a leading supplier in all of our selected customer segments," says Lauri Antila, executive vice president responsible for Head Invest Ltd.'s Industrial Operations.

Head Tech Ltd.'s 2011 turnover has been estimated to be approximately EUR 65 million. The company employs 360 people in 8 countries, with 100 employees in Finland, Estonia and China. The company's other units are located in Italy, Hungary, India, Korea and the USA. In addition, the company is establishing a unit in Vietnam.

Head Invest Ltd is a Finnish industrial company. In addition to new automation company Head Tech Ltd, the Group includes Proventia Group Ltd, a manufacturer of emission purification solutions, and Mediracer Ltd, a developer of medical diagnostics. In addition, the company is engaged in service production through its affiliates and subsidiaries Head Asset Management Ltd and Head Balance Ltd. The company is owned by Veikko Lesonen and his family.

http://www.headtech.com

http://www.headinvest.fi

http://www.jotautomation.com

http://www.masterautomationgroup.com
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Publication:PR Newswire Europe
Geographic Code:4EUFI
Date:May 5, 2011
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