Telko Ltd has signed a letter of intent with the YIT Group subsidiary, YIT St. Petersburg, on the purchase of a 32,840 m2 land plot in the YIT Gorelovo Greenstate business and logistics park located in the Leningrad region.
Specializing in plastic raw materials and industrial chemicals, Telko has grown strongly, and its annual net sales in Russia have increased to the level of about EUR 50 million. The company's Russian business operations have always been profitable. Telko has been operating in Russia for 15 years and, as business volumes are growing, it has a clear need for a logistics center. For several years, the company has been investigating the possibility of building a logistics center in Russia for industrial raw materials.
“We consider the future investment to be a significant one for developing Telko's operations in Russia. The new logistics center will enable us to offer new products and services to our customers in Russia and its Customs Union, and improves Telko's business opportunities and growth in the east. We have estimated that this is the ideal moment to invest in land and construction, particularly in Russia,” says Kalle Kettunen, Managing Director of Telko.
The letter of intent was signed by Telko and YIT at the Saint Petersburg International Economic Forum, witnessed by Leningrad Governor Alexander Drozdenko.
For more information, please contact:
Kalle Kettunen, Managing Director of Telko Ltd, phone +358 521 7201