The Annual General Meeting of Elcoline, a provider of technical services to industry in the Nordic countries, decided on 8 May 2025 to elect M.Sc. (Econ.) Mikko Kettunen as a new member of the Board of Directors. Kettunen’s term in the Board of Directors of Elcoline Group Oy will start at the end of Jari Osmala’s term of office. In addition, Jere Räisänen was re-elected as the Chairman of the Board, and Ari Lehtoranta, Kia Aejmelaeus and Jouko Juvonen were re-elected as members.

“Mikko Kettunen is a strong addition to our Board of Directors, his strong financial expertise and experience in various industries gives us valuable business understanding and supports our strategic decision-making from the point of view of growth and profitability,” says Jere Räisänen, Chairman of the Board of Directors of Elcoline Group Oy.

Mikko brings in significant board-level experience from both unlisted and listed companies. He serves as a board member in Fira and Raute, where he chairs the audit committees. At the moment, Kettunen works at Granlund as interim CFO. During his career, he has held management positions at companies such as Caverion, Exel Composites, Maillefer and Foster Wheeler.

“I am excited to join Elcoline’s Board of Directors at this point in the company’s development path. The goals to reach a turnover of EUR 250 million and a position as the leading industrial technical services provider in the Nordic countries are ambitious but realistic. Together with Elcoline´s strong and committed organization, I believe that these goals are fully achievable,” says Mikko Kettunen, the new member of Elcoline Group’s Board of Directors.

Elcoline has grown at an average annual rate of about 40 % over the last ten years, and strong growth is still pursued both organically and through acquisitions. The goal is to achieve a turnover of EUR 250 million during the current strategy period, by 2028.

“With the recent acquisitions, such as the acquisition of Fortum’s turbine and generator service business, we have been able to further establish our position in sectors that are already important to us – especially in energy production and other areas of industrial energy producers. This has allowed us to offer our customers even more comprehensive and demanding solutions requiring special expertise, further supporting our customers’ operational reliability and efficiency,” says Elina Engman, the CEO of Elcoline Group Oy.

For more information:

Elina Engman, CEO, Elcoline Group Oy

+358 50 351 4673, elina.engman@elcoline.fi

Jere Räisänen, Chairman of the Board, Elcoline Group Oy

+358 44 559 9144, jere.raisanen@elcoline.fi

Elcoline  Group  Oy 

Elcoline is a Nordic growth company specialising in industrial technical services for international industrial companies. Elcoline carries out demanding installation and maintenance projects for both new and existing sites in various industrial sectors. By providing high-quality and safe services, we ensure our customers’ security of production and competitiveness.

Elcoline’s services include total and partial maintenance outsourcing, maintenance service contracts and demanding installation projects. The company’s wide range of services covers mechanical installations, electrical, automation and instrumentation work, piping installation and welding, condition monitoring and data collection. We also carry out the manufacture and maintenance of heat exchangers, steam batteries and pressure equipment. As well as turbine upgrades and overhauls, generator stator and rotor rewinds and replacements, and related upgrades of monitoring and protection systems for power plants. Elcoline’s customers operates in the metal, mining, maritime, energy, defence, process and industrial modular construction industries.

Elcoline was founded in 2002 and employs around 1000 professionals. The company’s turnover in 2024 was about EUR 100 million. Elcoline operates in Finland and Sweden, as well as in service contract locations around the globe. Elcoline is owned by Finnish investor organisations Evli, Elo Mutual Pension Insurance Company, Tesi Finnish Industrial Investment Company, Arvo Sijoitusosuuskunta and the company’s founders and staff. Our goal is to grow profitably and to be the most valued partner for our customers and the most desirable employer for our employees.

Industry keeps society running. Elcoline keeps the industry running.

For more information www.elcoline.fi.