OP is involved in a major investment in Rovaniemi – financing helps Norrhydro double its production capacity

OP is involved in providing finance for a new production plant of Norrhydro based in Rovaniemi, which creates over 100 new jobs in the region. Both OP Toimitilakiinteistöt and the local Pohjolan Osuuspankki are together making this major investment possible in business in Rovaniemi.

Norrhydro Oy, a manufacturer of hydraulic cylinders for heavy working machines, said in April that it would launch a production plant project in Rovaniemi worth around 15 million euros. The new plant will even double the production capacity. OP Toimitilakiinteistö Ky fund invests 10 million euros in the new production and office facilities of Norrhydro.

“This investment is important to Rovaniemi and serves as a prime example for companies in Lapland that world-class products can be manufactured in Rovaniemi and sold on a global basis”, says Markku Härkönen, Senior Vice President of Pohjolan Osuuspankki. 

The project supports technological development and industrial activity in Lapland. OP Toimitilakiinteistöt has been involved in the planning of the project from the very beginning.

“When we are involved already in the early stage of the project, we can bring added value to it throughout the project and in terms of investment. The project with Norrhydro is a model example of long-standing user company cooperation that we are targeting. Then responsibility targets too can be taken into account in construction contracting from the very beginning”, points out Markku Mäkiaho, Managing Director of OP Property Management.  

With decades of experience in investing in commercial property, OP Property Management manages over 150 commercial buildings across Finland. OP Toimitilakiinteistö Ky fund is intended for professional investors. The fund’s properties include logistics facilities, production facilities and offices