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Home BUSINESSHarvia to manufacture wood-burning sauna stoves in Russia
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Sun, 05 Jul, 2015 10:38:29 PM
FTimes-STT Report, July 5
Photo Lehtikuva.
Finnish company Harvia has started manufacturing wood-burning sauna stoves in Russia, said Finnish language newspaper Keskisuomalainen.
 
The Muurame-based company's first stoves in Russia will be completed in Vyborg (Viipuri) by the end of the year. 
 
Harvia has no plan to bring the stoves to Finland. Instead, they will be marketed in Russia and possibly Belarus. 
 
Harvia CEO Pertti Harvia admits that the company has lost its competitive edge in Russia due to low customs costs.
 
Although the company had a good last year, sales of its wood-burning stoves in Russia fell by 80 percent. 
 
Equity investor, the CapMan fund, became majority owner of Harvia last year.
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