Teknoware Inc Secures Assets of Trans-Lite Inc.
Teknoware Inc. has radically expanded its business portfolio in North America after acquiring the assets of Trans-Lite Inc.
The company, an affiliate company of Finnish Teknoware Oy, has also procured the name of Trans-Lite Inc. on top of all the assets of the company.
Leading Lighting Supplier
Trans-Lite currently stands as one of the leading lighting suppliers for the rail industry in the USA and currently employs around 70 members of staff, all of whom are to be transferred to Teknoware with no loss of jobs after the sale.
William Jr. and Andrew and Ann Maley, founding members of the Trans-Lite family, all directed the purchase and are set to transfer into the Teknoware company when the deal is complete.
Teknoware Expanding to New Regions
Kai Kauto, managing director of Teknoware said: The transaction will support well Teknowares strategy of expanding to new regions and growing its global product portfolio.
Trans-Lite will give us a significant position on the North American market as well as new product families, such as exterior lighting systems and destination signs of trains for our other markets.
After a 15-year inter business relationship the faces behind the current Trans-Lite company are said to be thrilled with the move and have great faith in Teknoware taking over their current staff, believing that their strong family values match completely, signalling a wonderful and prosperous future for both parties.
Teknoware has been an operating company for over 40 years and stands as the market leader of interior lighting systems and emergency lighting systems for vehicles.
The company has been recognised with many awards, including The Exporting Award of the President of the Republic of Finland in 1996 and the Strongest Company of Finland Award in 2011.
Kai added: Our intention is to continue developing and growing the company further and expanding the markets.