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Vaisala Oyj (HEL:VAI1V) The company targets to see double-digit annual growth
Vaisala Stock exchange release, 5 November 2008
Continuing the strategy redefinition started in 2007, Vaisala is further developing its strategy and focusing on markets with the most growth potential. At the same time, the company is renewing its organization and adopting a market segment based reporting model.
Environmental awareness is increasing at an exponential rate, creating demand for energy efficiency and renewable energy sources. As one of the global leaders in weather and industrial measurement, Vaisala is ideally positioned to respond to these requirements: to grow within the existing market segments and enter new growth segments like wind energy, clean rooms and chambers and building automation.
Similarly, Vaisala's business environments are developing. Investments in airport and road infrastructure continue, resulting in a need for even more reliable weather information to maximize safety and increase operational efficiency. The requirements for automated weather solutions, wireless connectivity and remote sensing technologies are also among the key trends within the industry.
"Together with our customers, we influence the lives of millions of people every day. We have a portfolio to meet the most demanding customer needs, from safety and well-being of people to safety and effectiveness of operations and operational productivity", says Kjell Forsén, Vaisala CEO.
Going forward, Vaisala is focusing its business on three business areas and ten market segments:
Meteorology, headed by Martti Husu, consisting of Emerging markets and Established markets. The Meteorology business area serves national meteorological and hydrological institutes, whose primary interest is to provide national weather information and forecasts.
Weather Critical Operations, headed by Antti Ritvos, consisting of Airports, Roads, Defense, Wind Energy and Targeted Business Development segments. This business area focuses on customers whose operations or businesses are affected by the weather, like aviation customers, road authorities, defense forces and wind parks.
Controlled Environment, headed by Kenneth Forss, consisting of Clean Rooms and Chambers, Building Automation and Targeted Industrial Applications segments. This business area includes customers who operate in tightly controlled and demanding areas where the measurement of precise environmental conditions is required to increase operational quality, productivity and energy savings.
The three business areas have profit and loss responsibility for their respective businesses, and the sales personnel globally report directly to them.
To seek synergies and to utilize common technology platforms, Vaisala is creating a group wide Products and Technology unit, headed by Jouni Rantanen, which will combine the product creation and product management activities into one common horizontal function. Since January 2008, Vaisala's Services and Operations have already been organized the same way. Additionally, Vaisala is strengthening its marketing capabilities by establishing a group wide Marketing function.
"By understanding our customers' world we can create unique value to them. We are now building an organization that capitalizes on our global expertise with local implementation", says Kjell Forsén. "We master the measurement of different environments: we are the leader in weather measurement and aim to take the leading position also in controlled environments. Going forward, we target to see double-digit annual growth for Vaisala".
As of January 1, 2009, the Vaisala Group Business Management team has the following members: Kjell Forsén, Chief Executive Officer Kenneth Forss, Executive Vice President, Controlled Environment Martti Husu, Executive Vice President, Meteorology Jouni Lintunen, Chief Financial Officer Jouni Rantanen, Executive Vice President, Products and Technology Lauri Rintanen, Executive Vice President, Operations Antti Ritvos, Executive Vice President, Weather Critical Operations Scott Sternberg, Executive Vice President, Services and President, Vaisala Inc As of January 1, 2009, the Group Strategic Management team has the following additional members: Walt Dabberdt, Chief Science Officer Tapio Engström, Senior Vice President, Business Development Masse Ervasti, Senior Vice President, Group Marketing and Sales Marja Happonen, Senior Vice President, Group Human Resources Jussi Kallunki, Chief Information Officer Helena Marjaranta, Senior Vice President, Group Communications Ari Meskanen, Chief Technology Officer
The new organization and segment-based reporting will become effective as of January 1, 2009.
More information: Helena Marjaranta Director, Corporate Communications Tel. +358 40 581 9102
-------------------------------- Vaisala is a global leader in environmental and industrial measurement. Building on over 70 years of experience, Vaisala contributes to better quality of life by providing a comprehensive range of innovative observation and measurement products and services for meteorology, weather critical operations and controlled environments. Headquartered in Finland, Vaisala employs over 1100 professionals and is listed in the Nordic Stock Exchange, Helsinki.
This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
