New State-owned Company to Begin Production of Micro and Nanoelectronic Devices
VTT Technical Research Centre of Finland has been granted the right to transfer the production of micro and nanoelectronic devices to a limited company owned by the state and ownership managed by VTT. The Government decided on this action during its session on 21 December 2010. (Bulletin from the Ministry of Employment and the Economy and VTT.)
The service operations mainly cover the following products: microelectromechanical systems (MEMS), superconductive sensors, customer-specific circuits and processing of special wafers. In the future, new products developed at VTT or elsewhere can also be taken into production.
The production company is wholly owned by the state, and is part of the VTT Group. The limited company will have its own balance sheet, separate from state property, and its own profit and loss statement. State property will not be transferred to the company; in addition to its facilities, it will also lease its equipment from VTT. The company is estimated to have a turnover of some EUR 700,000 in 2011.
The company will operate in VTT’s facilities and use VTT equipment under the same terms as other corporate customers of VTT. The company’s own staff will be responsible for the production and marketing of its services. When possible, the company may also perform production for companies who have not commissioned product development from VTT. The services are flexible, and the company is able to supply small series, which is especially important for SMEs.
Becoming a company gives more flexible financing possibilities for financial planning and the development of business operations.
Business growth and the maintenance of profitable operations is based on business development with the current key customers and the acquisition of new customers.
Special adviser, Ministry of Employment and the Economy
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Senior Vice President, Finance
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