Category: Company Press Release

Despite the recent global economic turmoil, Finvacon Ltd has found a solid niche in the highly specialized B2B market. Manufacturing insulation and metal components for transformers, Finvacon operates as a subcontractor for some of the world’s largest producers of transformers and electric motors. The company counts industry giants such as Hitachi Energy, Siemens Energy, and ABB among its key clients. 

According to CEO Kaj Sundén, the partnership with Hitachi Energy has been an important learning experience for the company.  

“Hitachi’s strict quality requirements in areas such as delivery reliability and quality control have pushed us to enhance our capabilities”, he explains. 

A unique history regarding social responsibility differentiates the company from many of its peers. Operations began in 1969 as a workshop, offering job opportunities for people with disabilities. Although the business has grown and expanded over the past decades, nearly half of the company’s employees still represent groups that otherwise may have difficulties finding employment. 

What may seem as a remarkable concept to most, Finvacon simply views it as the way things should be done.  

“It is just a part of our everyday business, just as it should be for a lot of other companies as well”, Sundén says, hoping to one day export this mindset to Europe. 

Read the full article here: https://www.coastline.fi/finvacon-proves-profitability-and-social-responsibility-can-go-hand-in-hand/

At Finvacon, it doesn’t matter what language you speak, where you come from or what challenges you face. Here, diversity and inclusion are a given. Iryna Bakalchuk and Gabriela Miranda have just had lunch at their workplace Finvacon. Iryna Bakalchuk started working there in October 2022, about six months after she came to Vaasa from the war in Ukraine.

Gabriela Miranda is from São Paulo, Brazil. She has lived in Finland for 16 years. She first lived in Helsinki. Three years ago she moved to Vaasa to study. Last year she did an internship at Finvacon and now has a permanent job as a CNC machinist.

“For us it’s completely natural, it’s in our DNA”, says Kaj Sundén, CEO of Finvacon. At Finvacon you don’t need to know Finnish, Swedish or even English to get a job. Kaj Sundén hopes that more companies will think the same way. The most important thing is not what language you know, but that you feel safe at work and that you trust each other and feel a sense of community.

We don’t think much about who works here. But people from outside have said that it’s a wonderful environment here, very different compared to other companies in the Vaasa region. Others notice things that we ourselves may not see.

“Courage” is one of Finvacon’s slogans, “new normal” is another – diversity should be a natural and obvious part of working life. The company wants to be a role model for others.

Read the full article here: https://www.vasabladet.fi/Artikel/Visa/887573?shareID=Mkw5ajRGQnlKVU94dm0vL2VtcDBxdz09

We are attending CWIEME Berlin 2025. Register now to get your free ticket to CWIEME Berlin 2025 Exhibition – the world’s leading exhibition for transformers, electric motors, and e-mobility.

Find us at CWIEME Berlin 2025, Hall HUB 27, Booth 27F10, to learn more about our premium quality products for your sustainable energy needs, showcasing our expertise in transformer insulation and metal components. Our team will be showcasing expertise in transformer wood and a wide range of high-performance raw materials used in core production, winding, and assembly.

Discover our unique service for transformer insulation made of transformer wood, and other high-performance composite materials, such as pressboards (PSP), laminated pressboard, and Nomex.

A group of 200 students, faculty members from different universities and X-culture team members visited Finvacon as part of the X-Culture Global Business Week 2025, held from August 3–9. The event was co-organized by the University of Vaasa and X-Culture, an international experimental learning project that involves 150 universities from 70 countries to exchange cultural experience through solving real-life business challenges. Participants worked in groups on company-specific tasks, and the event concluded with a Gala award ceremony following all presentations.

This international event brings students, academia and businesses together to co-create solutions in the field of clean energy, innovation, climate action and sustainable industries through meaningful collaboration.

After evaluating solutions presented by 7 different groups for Finvacon challenge, one group was selected for their practical business thinking and innovative solutions.

Thanks to the X-Culture team and co-organizer University of Vaasa for creating such an amazing experience to inspire and motivate us to continue our work on sustainability and green energy revolution.

Mathias Norrback has joined as our Chief Operating Officer in March 2024. He will be responsible for increasing Finvacon’s productivity while performing across key areas such as purchase and logistics, shipping, and stock management.

He found Finvacon an interesting company both in terms of business area and growth potential. The energy industry is shifting towards more energy-efficient, greener, and renewable solutions. Referring to the fossil fuel phase-out and increasing market demand, he sees Finvacon’s strong potential to contribute to the European energy market that is self-dependent, sustainable, and sourced from clean energy.

His values align well with Finvacon’s commitment to sustainability and social responsibility model. Finvacon’s core objective is to create profitability to continue with the social responsibility we carry today.

Finvacon has transferred its laundry services to Eco-Wash. From now on Pesula is no more a part Finvacon’s business. The pesula services will run its operations at Eco-Wash at Kokkokalliontie 10, 65300 Vaasa.

We’ve recently taken a big step in expanding our business from two facilities to three.

Our metal production, including our Head office, has moved from Gneissinkuja to a larger, more modern facility in Runsor, Vaasa. The electric insulation production will remain in Strömberg Park, close to our assembly operations.

This relocation was crucial for the future since it provides more space and smarter facilities for our machines and procedures. Additionally, this move was essential for the growth we’ve experienced recently.

As you can see, we’ve spread out quite a bit. However, Finvacon’s core values, excellence in quality, and zero-fault principle remain the same.

It’s been a few days since we returned from 2024 CWIEME expo.

As we let the impression sink in, we can already look forward to 2024 as a year of growth, both internationally and internally.

We have achieved another milestone as our export activities continue to grow. And beyond that, our sustainability model continues to expand as our team gets bigger and more diverse with each passing year.

We are grateful to all our existing suppliers and customers with whom we continue strengthening our relationships. As the year progresses, we are excited to see what new opportunities and challenges lie ahead.

Thank you for making us the best we can be.

Looking back, it all turned out better than expected.

Last year was turbulent and brought many changes in the world, but you could still see companies and businesses growing and regaining a new foothold. Finvacon was no exception, and 2022 was generally an excellent year for us. We’ve gained new customers and strengthened our relations with old ones, which we are most grateful for.

The positive outcome of such growth is the possibility of employing more people. Being a company with a strong belief in social responsibilities, we see this growth as an opportunity to further expand and develop the Sustainability Model we’re recognized for. We’re humbled and thankful and will continue doing good work for customers and employees.

What is this so-called sustainability? What does it mean for a company to operate in a sustainable way? Who cares anyway?

Corporations use a lot of work and money to convince the public opinion about their level of sustainability. Comprehensive annual sustainability reports are written, seminars organized and people hired. Naturally these actions are steps forward to a better world, but my question is could sustainable actions be more concrete and organized more effectively than they are now?

For Finvacon sustainability and especially corporate social responsibility (CSR) are not marketing tricks, but the most important things in our strategy. Sustainability is also part of our daily routines: today we are an industrial, ISO certified company of 100 employees. Over 50 of these are with different kind of disabilities. However, we do not get much public funding, our success is based almost up to 100 % on income from our customers.

Our slogan “we believe in better work” reflects well our thoughts about work and society around us: by doing our work for customers as well as possible, we create new possibilities to employ special groups in the future, too and serve our society even better. We are masters of combining labour with normal and lower ability to work. We want to create “a new normal” by turning difference into excellence. The essential thought behind new normal is that it is perfectly normal to be a human being and employee with disabilities. Noboby’s perfect, we all have our deficiencies and we do fail sometimes!

Our model achieved a great acknowledgement in 2018 as we were awarded with the Global Outreach Award and Grand Prix at CWIEME exhibition in Berlin. A year earlier the Global Outreach Award was given to ABB for its University Partnership Program for Zambia. This Award is handed over to a company, group of employees or an individual in the industry who have taken their knowledge, electrical engineering capabilities and initiative to support others in a charitable or community outreach context.

We know that sustainability as a corporate theme is becoming more and more important. We wish that our customers and partners would have a courage to take a full advantage of our special knowledge and reputation in their sustainability activities. We really want to help other companies to implement and improve their sustainability performance. Let’s keep in touch!