Finvacon proves profitability and social responsibility can go hand in hand
Despite global economic turbulence in recent years, Finvacon has found itself a secure niche on a highly specialised B2B market. Manufacturing insulation and metal components for transformers, Finvacon operates as a subcontractor for some of the world’s largest producers of transformers and electric motors. The company counts industry giants such as Hitachi Energy, Siemens Energy, and ABB among its key clients.
According to CEO Kaj Sundén, the partnership with Hitachi Energy has been an important learning experience for the company.
“Hitachi’s strict quality requirements in areas such as delivery reliability and quality control have pushed us to enhance our capabilities”, he explains.
A unique history regarding social responsibility differentiates the company from many of its peers. Operations began in 1969 as a workshop, offering job opportunities for people with disabilities. Although the business has grown and expanded over the past decades, nearly half of the company’s employees still represent groups that otherwise may have difficulties finding employment.
What may seem as a remarkable concept to most, Finvacon simply views it as the way things should be done.
“It is just a part of our everyday business, just as it should be for a lot of other companies as well”, Sundén says, hoping to one day export this mindset to Europe.
Finvacon aims for expansion alongside its partners. The company has plans to move closer to Hitachi Energy once their new facilities begin operations in Vikby, which is scheduled to happen in 2027. Sundén notes that the company is fortunate to operate in a thriving industry.
Additionally, the company sees substantial growth potential in Central Europe.
“Our goals for the next decade are ambitious, yet attainable. We don’t aim to conquer the world in one go – Europe will suffice, at least for the next 10 years”, Sundén states.
