The Hong Kong stock exchange listed investment holding company Paladin Ltd has established two technology companies in Finland. The company duo named Kindhelm and Pexraytech is set to conduct research and product development as well as carry out system integration projects and programs.
InvestinFinland convinced the Hong Kong based Paladin group to grow its business using Finland as one of its platforms. Main reason? The quality of Finnish engineering that the recently established Paladin-group companies will tap on for research and product development, writes Helsinki Business Hub.
Paladin trusts in the strength of Finnish engineering. As Paladin investigated the possibilities of entering the Finnish market, the Hongkongese company became particularly attracted by the level and experience of applied research and product development engineering talent in Finland, states press release.
For Paladin, the strong local know-how is crucial, as the company plans to integrate and tailor existing and newly developed technologies for larger, advanced systems.
In Finland, Paladin does not look to hide its light under a bushel. One of the company’s main goals is to take an active role in Finnish and European research and development collaboration.
“The Finnish tech ecosystem is one of the most attractive in the world,” says James Oung, the CEO of Paladin. “We are extremely excited to build up our business in Finland and simultaneously strengthen our presence in Europe. During this process, we have received outstanding help from Finpro, Helsinki Business Hub, Espoo Marketing and Tekes.”
“Paladin’s decision to locate here underlines Finland’s existing strengths in technology,” comments Markku Lehikoinen, Senior Advisor at Finpro’s Invest in Finland. “Meanwhile, it further enriches the Finnish tech ecosystem. We are more than happy to welcome Paladin to Finland.”
Of the two companies, Kindhelm will have a focus on high-accuracy navigation and positioning technologies. Globally, the importance of such solutions has been steadily growing for the likes of the aerospace and marine industries.
Meanwhile, Pexraytech’s activities are organised around X-ray devices. The new company starts with an R&D phase that involves further developing X-ray technology and application in order to meet the necessary product specifications.
“We aim to run profitable and sustainable commercial enterprises that ultimately become leading companies in their specific fields,” says James Oung. “Bearing in mind our goals, Finland has a highly advanced local technology research infrastructure, which works perfectly for us. Meanwhile, there are plenty of potential customers among the Finnish and European advanced technology companies.”
Kindhelm and Pexraytech have started operations at Innopoli 1 in Otaniemi, Espoo. Simultaneously, the companies have kicked off the recruitment processes for the new employees.
Invest in Finland, working as a unit of Finpro, assists international companies in finding business opportunities in Finland, produces information about Finland as an investment location as well as develops and coordinates the national FDI promotion work, networking actively with regional and international actors. Invest in Finland also compiles information about foreign-owned companies in Finland.
Finpro helps Finnish SMEs go international, encourages foreign direct investment in Finland and promotes travel to Finland. Finpro is a public organisation consisting of Export Finland, Visit Finland and Invest in Finland.
Helsinki Business Hub Oy, the regional development agency for the Finnish capital region, makes Helsinki the best place to accelerate your business. They enable foreign companies to establish their businesses and innovation driven companies to grow and develop in the Helsinki region.
Espoo Marketing Oy is the local landing partner of both Finpro and Helsinki Business Hub for companies interested in the Espoo Innovation Garden ecosystem centred around Aalto University, VTT Research, a strong and vibrant startup ecosystem of multiple accelerators and co-working places, such as Startup Sauna, EIT Digital and tens of R&D organisations and facilities, such as Northern Europe’s largest cleanrooms at Micronova for sensor, microtechnology and nanotechnology research.
Source: Invest in Finland