• Samsung considering four sites in U.S. for $17 billion chip plant: documents

    Samsung considering four sites in U.S. for $17 billion chip plant: documents

    Samsung Electronics Co Ltd is considering two sites in Arizona and another site in New York in addition to Austin, Texas, for a new $17 billion chip plant, according to documents filed with Texas state officials. A Samsung spokesman told Reuters on Wednesday it is considering a number of possibilities in terms of expansion but declined to elaborate.

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    UPDATE 1-Moscow, pledging retaliation, calls U.S. sanctions 'anti-Russian lunge'

    Russia's Ministry of Foreign Affairs said late on Tuesday that new sanctions imposed by the United States were evidence of a "hostile anti-Russian lunge" and said it would retaliate to what it described as another blow to U.S.-Russia ties. In President Joe Biden's most direct challenge yet to the Kremlin, the United States on Tuesday imposed sanctions to punish Russia for what it described as Moscow's attempt to poison opposition politician Alexei Navalny with a nerve agent last year.

  • Harvia invests in additional production capacity in Finland

    Harvia invests in additional production capacity in Finland

    Harvia's headquarters Aerial picture of Harvia's headquarters and factory in Muurame Harvia is investing in increasing the production capacity of its Muurame factory in Finland by expanding the factory and acquiring new machinery. The total value of the investment, including the new machinery, is approximately EUR 2.5 million. The investment in Muurame will be used for the construction of a production hall of approximately 1,200 m2, where the company will install a new production line. Compared to the current production lines, the new line will have lower maintenance costs, a higher utilization rate and smaller environmental impacts. The investment will directly increase the capacity of the production phase prior to assembly by approximately 20% and enables building additional capacity for the electric heater assembly hall. A new layout, to be implemented following the new expansion, will also improve the efficiency of internal logistics. Production in the new hall is estimated to begin in December 2021. “Demand in the sauna and spa market has remained strong despite the COVID-19 pandemic. Harvia’s production at Muurame has increased, and this investment will enable us to further expand Harvia’s heater production, raise the level of automation at the Muurame factory, and further improve the productivity and efficiency of our operations,” says Tapio Pajuharju, CEO, Harvia Plc. Earlier in February 2021, Harvia announced an investment into a new production facility in the USA. “Together, these investments will advance our strategy and especially one of its cornerstones – continuous improvement of productivity,” Pajuharju says. For further information, please contact: CEO Tapio Pajuharju, tapio.pajuharju@harvia.fi, tel. +358 50 577 4200 CFO Ari Vesterinen, ari.vesterinen@harvia.fi, tel. +358 40 505 0440 Harvia is one of the leading companies operating in the sauna and spa market globally, as measured by revenue. Harvia’s brands and product portfolio are well known in the market, and the company’s comprehensive product portfolio strives to meet the needs of the international sauna and spa market of both private and professional customers. Harvia’s revenue totaled EUR 109.1 million in 2020. Harvia Group employs more than 600 professionals in Finland, China and Hong Kong, Romania, Austria, United States, Germany, Estonia and Russia. The company is headquartered in Muurame, Finland, adjacent to its largest sauna and sauna component manufacturing facility. Read more: https://harviagroup.com Attachment Harvia's headquarters