Pekka Frantti has been appointed new CEO of Ratos's subsidiary GS-Hydro. Pekka Frantti, currently holds a leading position within the Finnish company YIT, will succeed Thomas Rönnholm.
Pekka Frantti, 45, has a master's degree in engineering from Tampere University of Technology, Finland. He has held leading positions within ABB Building Systems which was acquired by YIT in 2003. Pekka is currently responsible for Industrial and Network Services at YIT.
"Pekka Frantti has large operational management experience from project-oriented operations with a significant technology content. This makes him a highly suitable CEO for GS-Hydro. We in the board are convinced that Pekka together with GS-Hydro's management team and other employees will continue to develop GS-Hydro's strong strategic position," says GS-Hydro's Chairman Anders Lindblad.
Pekka Frantti will take up his appointment on 1 February 2010.
GS-Hydro is a leading supplier of non-welded piping systems. Products are mainly used in the marine and offshore industries as well as in the pulp and paper, mining and metals, automotive and aerospace, and defence industries. The head office is located in Finland and company has approximately 630 employees. Sales for 2008 amounted to SEK 1,528m and EBITA was SEK 169 Mkr.
Ratos' holding in GS-Hydro amounts to 100%.
For further information please contact:
Henrik Blomé, Senior Investment Manager, +46 8 700 17 00
Anders Lindblad, Chairman of GS-Hydro, +46 70 551 87 72
Pekka Frantti, +358 503 900 932
Clara Bolinder-Lundberg, Head of Corporate Communications Ratos, +46 8 700 17 63