Harvia to invest in supply chain resilience by acquiring Phoenix ElMec in Italy

Finnish sauna and spa company, Harvia, has acquired electromechanical timer manufacturer, Phoenix El-Mec, in order to strengthen its supply chain for sauna heaters. Phoenix El-Mec has been a long-standing supplier for Harvia, and its timer switches are a key component in Harvia's basic sauna heaters. The acquisition will also support Harvia's strategy of improving productivity and operational efficiency. Phoenix El-Mec will continue to operate from its current location in Belluno, Northern Italy, with its existing 13 employees. Harvia's revenue in 2022 was EUR 172.4 million.

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Frequently Asked Questions

Q: What is the news about "Harvia to invest in supply chain resilience by acquiring Phoenix El-Mec in Italy"?

A: Harvia, a company located in Belluno, Northern Italy, has acquired Phoenix El-Mec, a trusted supplier, to invest in supply chain resilience.

Q: Why did Harvia acquire Phoenix El-Mec?

A: Harvia acquired Phoenix El-Mec to ensure the company's supply chain is environmentally sustainable, socially responsible, and resilient.

Q: What is the objective of this acquisition?

A: The objective of Harvia's acquisition of Phoenix El-Mec is to enhance their supply chain resilience and make it more sustainable.