Merger Between JOT Automation Ltd and Master Automation Group Ltd to be Completed with Mika Kettula's Appointment as CEO
OULU, Finland, January 2, 2012 /PRNewswire/ --
The merger between JOT Automation Ltd and Master Automation Group Ltd, companies owned by Head Invest Ltd, has been completed. All of JOT Automation Ltd.'s shares were transferred to Head Invest Ltd, which is owned by Veikko Lesonen and his family, in May 2011. The merger of Master Automation Group, which was already owned by Head Invest before the transaction, with JOT Automation will strengthen and diversify the expertise of the new company as a developer of total solutions and increase productivity within the production automation industry.
The merged companies will continue under the name of JOT Automation. The Master Automation Group name will be used in marketing the new company's grinding and finishing solutions.
To execute the new JOT Automation Ltd.'s growth strategy, Mika Kettula has been appointed as CEO starting from 1 January 2012. Kettula started his long and commendable career at JOT Automation as export manager in 1991, after which he led JOT Automation's operations in the United States and acted as chairman of JOT Automation Ltd.'s Board of Directors. Mikko Sipilä who has led JOT Automation since 2009 and acted as CEO over the past six months during the merger stage will leave his position on 1 January 2012.
JOT Automation Ltd is one of the world's leading suppliers of production automation and testing solutions. Its customers include leading companies that manufacture products for the IT, automotive, life science, shipping and aviation industries. The company has an annual turnover of approximately EUR 50 million and employs 360 people in eight different countries in Europe, North America and Asia.
Head Invest Ltd is a Finnish industrial company. In addition to JOT Automation Ltd, the Group includes Proventia Group Ltd, a manufacturer of emission purification solutions, and Mediracer Ltd, a developer of medical diagnostics. Furthermore, the company is engaged in service production through its affiliates and subsidiaries Head Asset Management Ltd and Head Balance Ltd. The company is owned by Veikko Lesonen and his family.
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