In April this year, Estonian investors bought AS Fenestra, the Estonian subsidiary of the Finnish Fenestra group. The company will continue window production, sale and service under the Fenestra trade mark.
Mr Rein Pruuli, who will continue as the chairman of the board of Fenestra, comments on the company’s future perspectives as follows: “It is good that the business of AS Fenestra will continue as usual. We have well-established production technology, a valued high-quality trade mark and skilled people. We will continue producing and selling windows as well as providing related services in Estonia.
Swedbank’s head of construction materials sector, Mr Mats Toots, is optimistic about the situation: “Estonian window and door producers will have the chance to take advantage of this situation and to increase their market share. I am very glad that the managers of Fenestra were able to keep the company with a staff of over 70 running in those difficult months. Moreover, they had enough faith in the company to buy it from its former owners along with the well-known trade mark. The Estonian industry will certainly benefit from this deal.“
There are 75 employees working at the Tallinn factory of Fenestra, and the turnover of the company was 8 million euros in 2013.