Efore renamed Enedo

25.2.2020

Press release  

25.2.2020

 

EFORE RENAMED ENEDO

  • STRATEGIC FOCUS ON INDUSTRIAL POWER SOLUTIONS

 

The Helsinki stock exchange listed company previously known as Efore was renamed when the extraordinary general meeting approved the new name Enedo today.

Enedo, which specializes in high-quality power supply products and systems, has sharpened its strategy and improves its operational efficiency. After selling its telecom business late last year to the Chinese Shenzhen Kexin Communications, Enedo now focuses on strengthening its industry business.

With its services Enedo meets the needs of a world that is becoming more and more digitalized and electrified. One of its core competencies is the ability to reshape electricity for different requirements and make it better, that is, more reliable, more secure and more energy efficient.

”Electrification will increase. However, electricity cannot be just electricity. It must be reshaped to meet the requirements of more and more sensitive and vulnerable systems and processes. Our core competency is to provide solutions for automation control of critical processes, for devices that demand high reliability, and, for example, for demanding LED lighting applications”, says Enedo’s CEO Vesa Leino.

 

New brand and name from industry and culture

Enedo’s new name derives from energy and a strong culture of getting things done. The red symbol on the company logo represents the reshaping of electricity. The name was changed because the name Efore passed on to the new owner with the sale of the telecommunication business.

”As a company we are at a turning point. Our new brand identity gives us an excellent opportunity to start executing our new strategy with a unified and reformed operating model. Enedo’s strength lies in strong technological competence as well as the ability and desire to help our clients in their business-critical operations. Our main market areas are Europe and North America”, says Vesa Leino.

Enedo’s products are divided into three categories: power systems, led drivers and power supplies. The products in the Power Systems category are especially well adapted to ensuring power supply for industrial processes even in harsh conditions. Enedo’s LED drivers are used in demanding lighting projects and in products where product properties and quality are key factors. The Power Supplies product category includes high-quality power electronics power supplies and chargers made for clients’ individual needs as well as for demanding current feed conditions.

The global market potential of the power supply market is estimated at USD 25 billion*. Enedo will focus on the LED, industrial and health care markets, whose market share is approximately USD 10 billion. The market is estimated to grow 5.6 percent annually during the following two years*.

*Source: Micro-Tech Consultants, Global Switching Power Supply Industry and HIS Markit Ac-DC & DC-DC Merchant Market & External power Adapters report 2018

Additional information:

CEO Vesa Leino

tel. +358 40 759 8956

 

Enedo

Enedo is a European designer and producer of high-quality electronic power supplies and systems for critical equipment even in the most demanding environments. Enedo’s mission is to make electricity better – more reliable, more secure, more energy efficient – and just right to fit its purpose. Enedo’s three main product categories are Led Drivers, Power supplies and Power Systems.

In 2019 the group’s revenue was EUR 43,3 million. Enedo has 394 employees and its main functions are located in Finland, Italy, Tunisia and USA. The group’s head office is in Finland and parent company Enedo Oyj is listed on Nasdaq Helsinki Oy.

www.enedopower.com