Ericsson Eesti becomes Estonia’s largest manufacturing corporation21.08.2012, 13:48
Global electronics manufacturer Ericsson made history when its assembly plant in Tallinn reached a landmark billion euros in revenues last year, writes Äripäev.
By reporting 1.24 billion euros in revenues, Ericsson Eesti passed both ferry group Tallink and energy company Eesti Energia.
Moreover, the company reported 66 million euros in net profit, or double the 2010 figure.
Behind the company’s excellent results were the growth in production volumes triggered by global demand and development of mobile broadband connections, said Carl Jonas Ygeby, board member of Ericsson Eesti.
Last year the company also completed a two-year project of modernising its Tallinn plant. “Now we have the technology and knowhow for manufacturing high-tech equipment,” he added.
A key for the company that in 2009 paid 30 million euros for the Elcoteq plant in Tallinn and its 1,200 employees was to start manufacturing mobile base stations and fourth-generation or 4G mobile communications equipment.