Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit Completed
Peikko Group Corporation is a Finnish supplier of Slim Floor Structures, Wind Energy Applications and Connection Technology for Precast and Cast-in-situ. Peikko is a family-owned and run company with over 2,000 employees. Peikko was founded in 1965 and is headquartered in Lahti, Finland.
Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit CompletedPeikko Group in 2022: Turnover EUR 314 million with 23% growth. Revenue in Russia decreased from $18 mn in 2021 to $13 mn in 2022. Peikko’s presence in Russia changed significantly in February 2022. Immediately after the war began, Peikko substantially downsized the Russian operations, starting with the major dismissal of employees. During the months of May and June, Peikko decided to withdraw from Russia completely and started the exit process. By August, Peikko had changed the name of its Russian company, had separated the operation from the rest of the Peikko organization, and had started the process of selling shares. However, Russian legislation changed in September, which meant that a permission from the government must be obtained before the sale of any shares belonging to limited liability companies. Peikko did not obtain this permission during 2022 and the process was on-going till the end of 2024. 23.12.2024: The entry about the founder of PEIKKO GROUP OY has been removed from the Unified State Register of Legal Entities. FP HOLDING LLC (UAE) becomes the new founder of the organization LLC "FASTCON". It's not clear who is the real owner of the new founder.
| March 21, 2023 | Peikko Group in 2022: Turnover EUR 314 million with 23% growth |