Sisu to ownership of management

Suomen Erikoisajoneuvot Oy, a company founded by Sisu Auto’s CEO Olof Elenius and Executive Vice President Timo Korhonen, has made a purchase offer for the acquisition of Suomen Autoteollisuus Oy’s entire share capital. Over 90 % of the Group’s current owners have accepted the purchase offer, and the intention is to obtain a resolution on the transaction during the month of July.

Companies belonging to the Suomen Autoteollisuus Oy Group include Oy Sisu Auto Ab (Group Services), Sisu Auto Trucks Oy (civilian trucks) and Sisu Defence Oy (military vehicles).

“The ownership of the company and merger of its management mean the return of a strongly-led family business during its first decades after its founding in 1931. This enables rapid reaction skill and decision-making in the developing requirements of customers,” Olof Elenius says.

“The implementation of the new strategy requires solid networking in which the owners' role in establishing necessary long-term relationships is pivotal from both the civil and military vehicle perspective," Mr. Elenius continues.

“Sisu Auto focuses on developing sturdy civil and military vehicles for demanding driving conditions and the technologies connected with these. Based on this expertise, the company will also establish new business activities,” Timo Korhonen affirms.

“With our extensive Mercedes-Benz component range, we’ll continue to obtain entirely new possibilities for our product development in the future as well,” Mr. Korhonen continues.

Rolf Saxberg, representative for the current ownership group and Chairman of the Board of  Suomen Autoteollisuus Oy, states that Sisu Auto, which specialises in heavy-duty transport equipment, has embraced a strategy of managing volume fluctuations caused by economic trends through networking and outsourcing.

“A company owned by motivated management has the best possibilities to ensure that know-how and jobs in truck production stays in Finland," Mr. Saxberg says.