Wetteri Plc Investor News 11 April 2025 at 3:30 p.m. EET
In May 2024, Wetteri announced that it had signed a distribution agreement with SANY Northern Europe AB for earthmoving machinery, including excavators and wheel loaders. Wetteri will discontinue operations that have proven to be unprofitable, and in the future, it will focus solely on the sale of used trucks and the heavy equipment bodybuilding in the heavy equipment business. The operations will be phased out. The equipment in stock will be sold out. The termination notice has no impact on Wetteri's financial guidance for 2025.
"After more detailed assessments, SANY earthmoving machines did not turn out to be a profitable business for us. We are withdrawing from the earthmoving machinery market and will focus on used truck sales and heavy equipment bodybuilding business," says Aarne Simula, President and CEO.
Wetteri sells used trucks and maintains heavy equipment, as well as offers spare parts and tyre services. The company engages in used truck sales under the company names Suvanto Trucks and Lahden Rekkapaja. In addition, Wetteri has a service representation for a total of five brands of heavy equipment. In the last quarter of last year, Wetteri announced that it would sell Wetteri Power Oy to the Swedish Persson Invest Ab. The transaction was completed after the end of the financial year on 1 January 2025. As a result of the transaction, the sales and maintenance of Volvo and Renault trucks was removed from the Group.
More info on:
Aarne Simula, President and CEO, Wetteri Plc
Tel. +358 400 689 613, aarne.simula@wetteri.fi
Wetteri Plc - an entrepreneur-driven growth company in the automotive industry
Wetteri Plc is an entrepreneur-driven growth company in the automotive industry. In addition to the retail trade of passenger, commercial and heavy-duty vehicles, the company provides maintenance and damage repair services ranging from passenger cars to heavy-duty vehicles. The company has 35 offices in Finland, and its head office is located in Oulu. The company employs approximately 800 people, of whom approximately 76% work in maintenance and damage repair services. Wetteri is a promoter of the digitalisation of the automotive industry and an important player in the joint journey towards emission-free driving. Further information: Wetteri for investors - entrepreneur-driven growth
