VEO could be described as a real spider in the web of the energy cluster in the Vaasa region. The company supplies electrification and automation solutions and has a longstanding relationship with almost all major energy technology companies in the region, such as Wärtsilä and Danfoss (former Vacon).
In 2015 VEO signed several new partnership agreement. According to CEO Marko Ekman, this is an indication of a change in the industry.
“As the investment decisions today often drag on, it means that projects are carried out with very tight schedules. This in turn means that there is a great need for a reliable and experienced partner, who complies with budget and can guarantee high quality as well as prompt delivery.”
Against this background, the determination to keep VEO’s own switchgear factory in Vaasa has proven to be a good decision. The factory, which is the largest of its kind in the Nordic countries, enables VEO to carry out fast and reliable deliveries.
“One of our strengths is that we embrace challenges and are very successful in carrying out challenging turn key projects with tight schedules,” says Marko Ekman.
VEO operates in several business sectors. All of VEO’s projects enhance energy efficiency and renewable energy is an important business area. In recent times, the power generation business has somewhat declined, whereas there has been a growing demand for VEO’s solutions within the power distribution and process industry areas.
VEO holds a very strong position in the domestic market in Finland, especially when it comes to electrifying wind farms and modernising hydropower plants. In recent years, the company has also taken major steps forward on the Norwegian and Swedish markets.
“For example, we delivered our first substation for a wind power project to Sweden in 2015. We have also established a joint venture in Sweden and the business has started very well.”
Business sector: Automation and electrification systems
Turnover 2014: €65 million
Major markets: The Nordic countries